If you win a $550 000 house in hgtv sweepstakes how much taxes you will have to pay?

hgtv home sweepstakes

Question by : If you win a 0 000 house in hgtv sweepstakes how much taxes you will have to pay?
HGTV is giving away a green home ( valued at $ 550 000 ) in Denver Colorado and 0000 cash this year. How much taxes will a winner have to pay?


Best answer:
Answer by ginarene71Try looking for the tax rates under "gift tax" maybe.

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