Woman Explains How You Win Prizes on ‘The Price is Right’ — It Kinda Sucks
I've always loved 'The Price is Right' -- even though it's basically an hour-long commercial for dozens of products. Who cares, right? One word: Plinko. Still, you might be surprised to find out that getting your prizes from the show isn't as easy as spinning a giant wheel. You basically have to PAY them to get the prizes. Uh, say what?
This article in The AV Club features an interview with a woman who won the Showcase Showdown. She got a car and what sounded like an awesome game room, which included a pool table.
But guess what -- if you win prizes in California on a game show, you have to pay the taxes on them. And not at the end of the year when your 1040 form shows up -- you have to pay the taxes BEFORE they give you the car. How messed up is that?
As the woman explain in the article, you have to look at it like an investment. You pay the taxes but get to turn around and sell the car, if you want. But the article also points out that if you win a trip, not everything is paid for, you still have to pay the taxes, and there's nothing for you to sell.
Read more about it here, but don't do it if you'd rather not have your heart broken about TPIR. If you're not discouraged, she also has good tips on how to get picked to appear on the show.
Now, just for fun, here's a guy who won a million dollars.