dream house raffle taxes

Ybca makes no guarantee that the Grand Prize Winner will be able to sell the House for a particular value, nor is there any guarantee that the Internal Revenue Service (IRS) will accept that value of the house for the purpose of determining any income.
Consult your tax advisor.
The dream is what happens after you sell the house.
50/50 Add-On Tickets must be ordered in conjunction with your primary raffle ticket.num Prizes / Product / Cost / Total Payout 150 / Apple TV w/ hdmi cord / 99 / 14850 5 / Samsung Google Chrome Notebook / 500 / 2500 1 / 13" MacBook Air, 256GB / 1299 / / Apple iPod shuffle - 2GB.Grand Prize Drawing: Grand Prize: The San Diego Dream House or a 2,100,000 annuity or 1,400,000 onetime cash option* 2nd Grand Prize: Winners choice between a 2017 Mercedes-Benz S550 Cabriolet, Trip-around-World or 125,000 Cash* 3rd Prize: Vacation to Italy (7 days/6 nights) or 15,000 cash.Early Bird Drawings: Early Bird Drawing 1: Prize: 2017 Tesla Model S 60 or 50,000.Up to a maximum of only 74,500 tickets will be sold.Prior to the Grand Prize Drawing, rmhc-SD will make a reasonable effort to notify the individual and/or entity that submits such an entry form or one which has been rejected because the credit card or check did not clear that the entry has been rejected.Rmhc-SD employees, members of the Board of Trustees, authorized agents and employees thereof, consultants, attorneys, independent accountant firm, and their spouses and children living in the same household are excluded from participating and are not eligible to win a prize.Ybca reserves the right to reject any entry form that is submitted with payment that does not constitute "good funds." No refunds will be made except under the following circumstances: any ticket order with payment received after 75,000 tickets have been sold or after November.This is the safest bet because your payout is not dependent on the sometimes fickle housing marketyoure guaranteed a fixed amount and you dont have to worry about accruing any expenses on the house.Tickets: Primary tickets are 150 each, 3-packs for 400, or 5-packs for 550.Current owner is Harry Knowles, according to property records.
While most people sold the Dream Home, there are a few notable exceptions.Unless youre already a millionaire, the answer is almost certainly.(Of course, after selling the prize house Groszkiewicz and his wife were audited twice by the IRS, so it seems it can also bring its own little nightmares).All such tickets, including, all winning tardy sweep program tickets from Early Bird Drawings, will be included in applicable subsequent drawings, as well as the Grand Prize Drawing.Last year the threshold was 61,200.All of the homes have been located in beautiful vacation locales with lush surrounding and often stunning views.The Early Bird Drawings, Bonus Multi-Ticket Drawing, 50/50 Add-On Drawing and Grand Prize Drawing will be held under the supervision of an independent raffle auditor.Only one method of payment, one name, and one mailing address are permitted per ticket pack.If fewer tickets are sold, the chance of winning the Grand Prize, Early Bird Prizes and all secondary prizes improves.It would be logical (and) rational to lower the threshold.


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