I won a car at a casino worth $29,000.?

  • Thread starter Thread starter AJ
  • Start date Start date
A

AJ

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How much taxes do I owe if I sell for it $20,000 instead? Would the IRS accept that? Please don't answer this question if you don't anything on this matter.

Thanks.
In other words, would the IRS tax me on 20,000 or 29,000?
 
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