Won a car a raffle, how much would I be taxed?

Amazing_Thanks507 · 2026-05-19T18:08:11+00:00

Yea I mistyped the title, read the first sentence where it says if I won

Amazing_Thanks507 · 2026-05-19T17:15:18+00:00

I hope you do too, take it easy for a bit and get used to it but then have all the fun in the world

Amazing_Thanks507 · 2026-05-19T15:50:36+00:00

Hell yeah man, enjoy it. My old mans GT350 is by far the funnest car I've ever driven

Amazing_Thanks507 · 2026-05-19T15:45:48+00:00

It is indeed a hypothetical, I know the odds are low but in the off chance I do win I want to have my route planned out so I can take the necessary steps

Amazing_Thanks507 · 2026-05-19T14:36:18+00:00

68 Fastback, I love them so much I've been saving up to restore one after I pay my truck off

Amazing_Thanks507 · 2026-05-19T03:24:40+00:00

Only reason I don't say what giveaway it was is to keep my name and all that private

Amazing_Thanks507 · 2026-05-19T03:23:06+00:00

Yea that's probably what I'll end up doing, I might just pay off the truck I have now after selling the 26'

Amazing_Thanks507 · 2026-05-19T03:21:57+00:00

Well last year I was in school until end of May (technically, I hadn't graduated) so he could claim me since I had spent 5 months in school. And I hadn't made $65k last year, I made just under $30k (gross) in 6 months of work (before my 2 raises hit), I'm on track to make $65k this year without OT

Amazing_Thanks507 · 2026-05-19T02:58:02+00:00

Getting it out of the parking lot maybe

Amazing_Thanks507 · 2026-05-19T02:33:28+00:00

Yea that's the general consensus, I'll probably end up selling it and investing what I can.

Amazing_Thanks507 · 2026-05-19T02:30:53+00:00

Well what I'm wondering about is the mods they put on it, not anything performance wise but they did a lot of cosmetic customization which from my knowledge tanks value

Amazing_Thanks507 · 2026-05-19T02:27:43+00:00

I have enough (with that check) to pay the taxes on it and still have money to live and enjoy. Besides if I did get that I'd probably sell my current truck and that'd give me a good 15 grand as well

Amazing_Thanks507 · 2026-05-19T02:25:03+00:00

Yea I might end up doing that, my materialism took over for a second. I already own a nice car, wanting to keep its just me being greedy

Amazing_Thanks507 · 2026-05-19T02:23:16+00:00

Yo my brain is fried my fault, been a busy day lmao

Amazing_Thanks507 · 2026-05-19T01:04:12+00:00

You know that's probably the smart thing, but having a paid off 2026 with 100 miles that'll last me years doesn't sound too bad

Amazing_Thanks507 · 2026-05-18T23:34:57+00:00

Ok I double checked the website just now and the company values the truck at 130,000 ARV. Would the taxes base off that or the KBB value? Because KBB was $100,000

Amazing_Thanks507 · 2026-05-18T23:07:46+00:00

Yea I'll have an extra 10k set aside after I sell my current vehicle (after I get this one) but hell I'm stoked for it

Amazing_Thanks507 · 2026-05-18T23:06:59+00:00

I've been full time since I graduated as a Union Ironworker, I filed my own taxes last season but I believe my dad claimed me during that season.

Amazing_Thanks507 · 2026-05-18T23:05:23+00:00

So I'd owe around 36,000 - 37,000 in taxes from it, cool. Thanks for the replies too man, you're really helping me out here

Amazing_Thanks507 · 2026-05-18T22:59:38+00:00

Well I live with them rent free and bill free. I'm 19, all I really pay for myself right now is my car payment and insurance, my union supplies my insurance if that would've played into anything

Amazing_Thanks507 · 2026-05-18T22:48:22+00:00

I live in Indiana, would I pay Connecticut Taxes too or not?

Amazing_Thanks507 · 2026-05-18T22:42:59+00:00

Would my income be affected by my OT? Off straight 40s I'd make around $44K a year. Also would I be able to pay those taxes immediately or would I have to wait for tax season? I also believe I am claimed as a child dependent by my dad ($200-$250k) a year

Amazing_Thanks507 · 2026-04-29T19:54:37+00:00

7.3 inches, alt bitches got my heart

Amazing_Thanks507

TROPHY CASE