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In the United States, money paid to Olympic medal winners is taxable.

Other countries' laws may vary.

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11y ago

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Related Questions

How much do Australian Olympic medal winners get paid?

2


How much do olympic gold medal winners get paid in swimming?

$1000


How much do Olympic silver medal winners get paid US?

$15,000


How much do English Olympic gold medal winners get paid?

Nothing


How much do Russian Olympic gold medal winners get paid?

I don't believe being paid is allowed


How much do GERMAN Olympic gold medal winners get paid?

around $300 an hour


reparations?

amount of money for damages paid by losing nation to the winners


How much do London olympic gold medal winners get paid?

That will be based on the country. The US Olympic committee pays an award bonus of $25,000 for a gold medal.


Us olympic winners get money?

Yes, they receive a bonus from the USOC (United States Olympic Committee). I believe that a Gold medal winner receives $25,000; Silver is $15,000; Bronze is $10,000. Does Michael Phelps get paid for all of his medals? I don't know.


How much money does an athelete get for a gold medal?

Olympic athletes do not get paid for the medals they win. They do not receive pay for participating. U.S. medalists receive cash prizes from the U.S. Olympic committee. Gold medal winners receive $25,000, silver medal winners receive $15,000, and bronze medal winners receive $10,000.


How can Olympic medal winners maintain amateur status when they get paid for their medals by the us Olympic committee?

Nobody's amateur anymore. Bolt got 13.1 million last year.


If you terminate a cancer ins policy and get a refund check for the premeiums you paid in is the amount of the refund taxable Do you have to report it as income and pay taxes on it?

No.Presuming it was paid with after tax money (money you already paid tax on)...the return of that money is not taxed.