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Old 01-02-2012, 11:11 AM   #1 (permalink)
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Default WON Etopps fantasy football league

Hey all,
I'm pretty excited as I won the Etopps fantasy football league(user spauthentic) and SHOULD be getting a 18 box case of 2011 topps triple threads football.

I was just curious as to how this affects me with taxes. I have to submit a form before i get the prize. Do I get deducted, or does it come in play when I file at the end of the year? they have the value at 2500$?

Anyways, I can't wait to open these, and hopefully topps comes through and does it quickly and efficiently.

Any other winners on here?
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Old 01-02-2012, 11:56 AM   #2 (permalink)
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Quote:
Originally Posted by jetscollector10 View Post
Hey all,
I'm pretty excited as I won the Etopps fantasy football league(user spauthentic) and SHOULD be getting a 18 box case of 2011 topps triple threads football.

I was just curious as to how this affects me with taxes. I have to submit a form before i get the prize. Do I get deducted, or does it come in play when I file at the end of the year? they have the value at 2500$?

Anyways, I can't wait to open these, and hopefully topps comes through and does it quickly and efficiently.

Any other winners on here?
If you gift the CASE to me it will not effect your year end taxes
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Old 01-02-2012, 02:18 PM   #3 (permalink)
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Congrats on the win!
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Old 01-02-2012, 03:48 PM   #4 (permalink)
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Topps will issue a 1099 to you and you'll have to report the value Topps assigns to the prize as income on your tax return. As with most 1099 income, nothing is withheld up front.
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Old 01-02-2012, 07:06 PM   #5 (permalink)
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thanks for the comments guys. i'll keep updating as more comes in. It takes a while to get final standings/scoring and prize.
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Old 01-02-2012, 07:11 PM   #6 (permalink)
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Yep. Nothing is withheld and you'll have to sign and send in all of their forms before you get your prize.

Congrats

If I remember correctly I did dispute the value of their prize (07 Bowman Sterling FB case) when I won back in the day. I forgot what they claimed the price was but I took the current market value and not their retail value for my taxes. Not sure if this is/was illegal back when I did it, maybe someone else knows if you have to use the declared price or not.
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Old 01-03-2012, 11:33 PM   #7 (permalink)
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better check again......check the etopps forums.....
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Old 01-04-2012, 09:54 AM   #8 (permalink)
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better check again......check the etopps forums.....
I saw. I'm working on it.
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Old 01-07-2012, 10:00 PM   #9 (permalink)
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Congratulations. Nice Win.
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Old 01-15-2012, 05:57 PM   #10 (permalink)
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Were you one of the guys that was able to use certain player cards more than once?
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