Ask Experts Questions for FREE Help !
Ask
    opons's Avatar
    opons Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jun 28, 2013, 11:51 AM
    Non-profit seeking to sponsor a raffle
    We are doing a 50/50 raffle to help raise funds for our organization in North Carolina. Is there a dollar amount that we give that requires us to give the winner a 1099. We are a non profit 501C3

    Respectfully,
    D. Hall
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
    Expert
    		  
    #2

    Jul 6, 2013, 11:36 AM
    Post moved from this thread.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Jul 6, 2013, 11:53 AM
    I believe any amount over $599.99 requires a 1099.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
    Expert
    		  
    #4

    Jul 6, 2013, 12:49 PM
    Quote Originally Posted by ScottGem View Post
    I believe any amount over $599.99 requires a 1099.
    Actually it's a W-2G. The details are contained in Publication 3079.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #5

    Jul 6, 2013, 01:08 PM
    Quote Originally Posted by AK lawyer View Post
    Actually it's a W-2G. The details are contained in Publication 3079.
    You're right, it is gambling winnings so would be a W-2G. But the threshold is correct. Good link too. That should be all the info the OP needs.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Raffle odds [ 0 Answers ]

I am trying to write a formula to calculate percent chance of having a winning raffle ticket. Lets say for example there are 1430 tickets sold. I have 64 tickets. Lets say there are 25 prizes. I was thinking number of tickets I have divided by the total of tickets. Then multiply that by the 25...

My spouse is to sponsor my sponsor,do I still need to submit my statement of account [ 0 Answers ]

I want to invite my spouse and he will be spnsored my sponsor,do I stii need to submite my statement of account?

Legal resident seeking to sponsor child [ 2 Answers ]

Hi I am a legal resident of the United States and am seeking to sponsor my child to be able to come to the US. When I was given my permanent visa in 2002 I was asked whether I wanted to bring my child with me but he was only about a year old and I thought it better for him to stay with his mother....

Raffle odds [ 1 Answers ]

I guess I'm thinking too hard. If there is one prize and 300 tiks my odds would be 1 in 300 . If 1 prize and 600 tickets and I buy two, I'm told my odds are the same. My question is why is the odds the same ? If 1 out of 300 I could pull 299 before getting to my #. If 2 of 600 the I could pull...

View more questions Search