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The prize taxes for a gold medal honorarium of $25,000 is pegged by ATR at $,8750. Combined with the tax on the medal itself, a gold medalist will have to pay the IRS $8,986. A silver medalist must pay $5,385 on the medal and the $15,000 honorarium and a bronze medal winner must pay $3,502 on the medal and the $10,000 honorarium.
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∙ 11y agoThis answer is:
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Wiki User
∙ 11y agoIf u win gold you will pay over 5k in taxes
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