Tax Question saw you on WGN!
I won a new truck in 2018 in the state of Wisconsin and was told I would have to pay state income tax both in Illinois(residence) and Wisconsin! Is this true as it sounds like double taxation!
Thank you,
Brian
Terry Says
That’s an interesting question. My thinking is you would have to pay SALES tax in Wisconsin — and the “prize” might be considered income on both your Federal and Illinois tax returns. Did you receive a 1099 — income tax form — for Federal taxes? When you won, did they give you any kind of tax statement??
I’m going to suggest you contact a tax expert for the correct answer to this. And if you don’ t have a CPA go to TurboTax.com where you can ask your question to a true expert!
