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2 Comments On "Sometimes The Solution Is Just A Click Away! Purchase A Payday Ticket To Get $1000 A Week For A Full Year!"
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When would the 1099 be given? At the time of the winning or after all funds have been awarded?
I’m pretty sure the answer is: Neither. It would be given at year’s end for the prior tax year. Since this prize is a weekly payout over 52 weeks that means unless the 1st payment is in the 1st week of 2020 and the 52nd payment is in the last week of 2020, the payouts will actually stretch out over the course of two tax years (ie 2020 and 2021). Therefore, one 1099 will be sent at the beginning of 2021 for tax year 2020 and a second 1099 will be sent at the beginning of 2022 for tax year 2021.
Hope this helps.
By the way, the first step would be to actually WIN the raffle.
Good luck.