answersLogoWhite

0


Best Answer

What does ARV mean in a Sweepstakes? The ARV is the "Approximate Retail Value" of the prize. With cars, you'll often see MSRP or "Manufacturers Suggested Retail Price". The ARV or MSRP represents what the prize is worth. When you report a prize win to the IRS, you may come up with an amount that is not the same as the ARV. For example, let's you won a camera that the sponsor said was worth $400. If you can document that the camera is currently selling for $250, you can report the $250 actual value to the IRS instead of the $400 ARV. Here's some more information on prize wins: http://www.sweepsadvantage.com/sweepstakes-law.htm

User Avatar

Wiki User

15y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: When you enter a sweepstakes do you have to pay the ARV?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

How do you enter the Toy Story mania sweepstakes?

how do you enter the toystory mania sweepstakes?


What are the chances of winning the average cash sweepstake?

Your chances of winning the average cash sweepstakes vary with the type of sweepstakes you enter and the number of people who enter the same sweepstakes as you.


I want to enter win sweepstakes prizes at store?

Well...then enter into the sweepstakes....unless you want to know how to enter into a sweepstakes....be more specific with your question if you want it to be answered completely. Sorry if I sound mean or rude.


How do you enter the wizards on deck with Hannah Montana sweepstakes?

Actually, the Wizards on Deck with Hannah Montana Sweepstakes has ended a long time ago. Someone had became a winner and won the outstanding prize in the sweepstakes. So currently, it is absolutely impossible to enter the sweepstakes, sorry.


Is the American sweepstakes Network legit or a scam?

Legitimate sweepstakes do not require upfront money in order to pay a winner...NEVER! Winners pay taxes AFTER they receive the winnings. Also, you have to enter a sweepstakes in order to win, Legitimate sweepstakes companies do not contact anyone unless they receive an entry from the person. If you are contacted without entering the sweepstakes, it is not a legitimate sweepstakes. Even if you entered a sweepstakes, remember that legitimate sweepstakes NEVER require upfront money in order for the person to collect their winnings. Please see the Related Link for more information.


How old do you have to be to enter the iCarly sweepstakes?

six or up


How do you enter the McDonalds home sweepstakes?

go on their website


How does one enter a holiday sweepstakes?

One must find find a holiday sweepstakes and then enter your information and whatever else is required by the contest. You can find these mostly around the holidays.


Where can you enter for a sweepstakes to a Justin Bieber concet?

go to justinbiebermusic.com


When was Arv created?

Arv was created on 2008-11-28.


When was Arv Garrison born?

Arv Garrison was born in 1922.


When did Arv Garrison die?

Arv Garrison died in 1960.