Tax Information

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okstater04
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Tax Information

Post by okstater04 »

Hey, all!

Should I be expecting some tax info sent to me from Jeopardy! for my second place finish on an episode in 2012?

Do I need to file California state taxes to report my second place winnings?

Thanks!

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debramc
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Re: Tax Information

Post by debramc »

I've been wondering the same thing. I'm pretty sure they said they'd send some kind of form (1099, probably) for the federal taxes. All the federal stuff is late this year, so I don't know if they even have the Jan 31 deadline to send them out. I'm also fairly sure the income is subject to California taxes, although they only had California reseidents fill out the withholding forms in the green room. Maybe there's an exemption level that's at least $2,000, so that only those who actually win or have other CA income are actually going to owe something?? (That's my hypothesis, I don't know for sure) Whether we are still supposed to file in California I don't know.

Anyone out there? I know we're not the first ones to deal with this.

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Woof
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Re: Tax Information

Post by Woof »

debramc wrote:I've been wondering the same thing. I'm pretty sure they said they'd send some kind of form (1099, probably) for the federal taxes. All the federal stuff is late this year, so I don't know if they even have the Jan 31 deadline to send them out. I'm also fairly sure the income is subject to California taxes, although they only had California reseidents fill out the withholding forms in the green room. Maybe there's an exemption level that's at least $2,000, so that only those who actually win or have other CA income are actually going to owe something?? (That's my hypothesis, I don't know for sure) Whether we are still supposed to file in California I don't know.

Anyone out there? I know we're not the first ones to deal with this.
I'm no expert, but I'd expect that you should receive a 1099-MISC from Sony as you're being compensated as a non-employee.

WooWho?
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Re: Tax Information

Post by WooWho? »

debramc wrote:Maybe there's an exemption level that's at least $2,000, so that only those who actually win or have other CA income are actually going to owe something??
The exemption level, I've heard, is $600--I could be wrong, but it's definitely not four figures. I'm originally from New Orleans, and I came in second when I was on Kids' Week '03. They automatically withheld CA taxes from my check when it arrived.

Now, when I won on The Price is Right three years ago, they withheld CA taxes from the check they sent me. I then had to pay federal income AND Louisiana state taxes on top of that. (Different show, different amount paid out, but hopefully the same general idea.)
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Spaceman Spiff
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Re: Tax Information

Post by Spaceman Spiff »

The reporting requirement is $600, so you should be getting a 1099-MISC from Sony (or, more precisely, from Quandra Productions, since they issued the check).

Normally, these are required to be mailed by January 31, but with the wrangling in DC this year, they don't have to go out until February 15.

I can't speak for the California requirements firsthand (assuming you aren't a CA resident). Something sticks in my head that the $1000 was under their threshhold for filing, but the $2000 wasn't. In any case, if they've withheld any money from you for CA taxes, you'd have to file to get it back.

EDIT: DebraMC -- California residents probably have to fill out the equivalent of a IRS Form W-4 for withholding; for us out-of-staters, they took out a flat percentage.

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silverscreentest
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Re: Tax Information

Post by silverscreentest »

The tax laws may have changed since I was on, but I remember filing in California, though I didn't live there, and getting all my withheld taxes back. Also, my first check was as if I had won $1,400, not $14,000. I raised holy hell and got a second check for the difference and an apology.
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dhkendall
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Re: Tax Information

Post by dhkendall »

Curious, do Canadians have to pay taxes to the IRS (and/or Revenue Canada) on J! winnings?)
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econgator
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Re: Tax Information

Post by econgator »

dhkendall wrote:Curious, do Canadians have to pay taxes to the IRS (and/or Revenue Canada) on J! winnings?)
Quite certain that you'd owe Uncle Sam for his fair share, but I seem to remember Michael Daunt stating that you would not owe anything to RevCan.

legendneverdies
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Re: Tax Information

Post by legendneverdies »

One of my checks from GSN LIve took 7% CA tax out of my total winnings back in early 2011. I got most or all of the federal tax paid back via refund.

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JeopardyMom
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Re: Tax Information

Post by JeopardyMom »

silverscreentest wrote:The tax laws may have changed since I was on, but I remember filing in California, though I didn't live there, and getting all my withheld taxes back. Also, my first check was as if I had won $1,400, not $14,000. I raised holy hell and got a second check for the difference and an apology.
I usually do my own taxes but had an accountant do them the year I had J! winnings. I did have to file in California to get a refund on the tax they withheld -- it was a few years ago when the state was having serious financial problems so I got that check to the bank as quickly as possible! Also did income averaging to minimize the impact of a substantial bump in income for that one year.

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Case
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Re: Tax Information

Post by Case »

In the envelope they sent with my check, I got a bunch of forms. The green page says "DO NOT LOSE THE ENCLOSED 529-B FORM" and then at the bottom "CA nonresident tax will NOT appear on the federal form 1099 you will receive next year." So, looks like we get 1099s from the show. That being said, I haven't gotten anything since my check/paperwork on Christmas Eve.

NoWhammies10
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Re: Tax Information

Post by NoWhammies10 »

Canadians do not pay any tax on game show winnings. RevCan doesn't get a penny.

/not like the Royal Canadian Mint will be giving them any

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dhkendall
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Re: Tax Information

Post by dhkendall »

NoWhammies10 wrote:Canadians do not pay any tax on game show winnings. RevCan doesn't get a penny.

/not like the Royal Canadian Mint will be giving them any
Cute. But, do we still have to pay tax (to Uncle Sam)? I don't think any Canadian boardies who have been on have weighed in.
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bpmod
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Re: Tax Information

Post by bpmod »

dhkendall wrote:
NoWhammies10 wrote:Canadians do not pay any tax on game show winnings. RevCan doesn't get a penny.

/not like the Royal Canadian Mint will be giving them any
Cute. But, do we still have to pay tax (to Uncle Sam)? I don't think any Canadian boardies who have been on have weighed in.
While I am not an authority on the subject, and I haven't been in the situation (yet), I will weigh in.

It is a given that CRA (Canada Revenue Agency -- formerly known as CCRA (Canada Customs and Revenue Agency) and before that RCCE (Revenue Canada, Customs & Excise) and colloquially referred to as Revenue Canada) does not get a cent of winnings, be they lottery or game show winnings. I have heard (on this board or on the old board, or maybe elsewhere) that any amount withheld by the State of California or the U.S. federal government can be recovered. I have also heard that the amount (not sure if it would be the full amount withheld) being recovered might not be worth the hoops needed to be jumped through for said recovery.

So, from my understanding, Canadian residents/citizens who win on Jeopardy! do need to (initially, at least) pay Uncle Sam, but do not need to pay RevCan.

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Zyzzyva
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Re: Tax Information

Post by Zyzzyva »


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thejeopardyfan
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Re: Tax Information

Post by thejeopardyfan »

okstater04 wrote:Hey, all!

Should I be expecting some tax info sent to me from Jeopardy! for my second place finish on an episode in 2012?

Do I need to file California state taxes to report my second place winnings?

Thanks!
I got my tax stuff from Jeopardy today, if that helps.

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debramc
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Re: Tax Information

Post by debramc »

thejeopardyfan wrote:
okstater04 wrote:Hey, all!

Should I be expecting some tax info sent to me from Jeopardy! for my second place finish on an episode in 2012?

Do I need to file California state taxes to report my second place winnings?

Thanks!
I got my tax stuff from Jeopardy today, if that helps.
I got mine too, but it doesn't show any withholding. Shouldn't it? They took out 7%, but the 1099 just shows the 2,000 income. I wasn't clear whether the withholding was federal or CA, and hoped the 1099 would clear that up. Now I don't know who to try to get that back from...

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thejeopardyfan
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Re: Tax Information

Post by thejeopardyfan »

debramc wrote: I got mine too, but it doesn't show any withholding. Shouldn't it? They took out 7%, but the 1099 just shows the 2,000 income. I wasn't clear whether the withholding was federal or CA, and hoped the 1099 would clear that up. Now I don't know who to try to get that back from...
Both of mine look like that, too. (Did you get two? I think they're identical.)

CoachP
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Re: Tax Information

Post by CoachP »

debramc wrote:
thejeopardyfan wrote:
okstater04 wrote:Hey, all!

Should I be expecting some tax info sent to me from Jeopardy! for my second place finish on an episode in 2012?

Do I need to file California state taxes to report my second place winnings?

Thanks!
I got my tax stuff from Jeopardy today, if that helps.
I got mine too, but it doesn't show any withholding. Shouldn't it? They took out 7%, but the 1099 just shows the 2,000 income. I wasn't clear whether the withholding was federal or CA, and hoped the 1099 would clear that up. Now I don't know who to try to get that back from...
Probably best to consult your tax preparer for this.

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kickerofelves
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Re: Tax Information

Post by kickerofelves »

debramc wrote:I got mine too, but it doesn't show any withholding. Shouldn't it? They took out 7%, but the 1099 just shows the 2,000 income. I wasn't clear whether the withholding was federal or CA, and hoped the 1099 would clear that up.
My understanding is that they take out the CA taxes (7%?), but that they DON'T do any Federal withholding.

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