"Jordan" wrote in message ...
Americans get taxed on material prizes as well as cash? Wow! It makes
winning a new car or house or plane or whatever a burden to the wrong
person!

Certainly, it's just like any other income. You get taxed on the value. What's
really absolutely stupid is that if you win a "new" car, you get taxed on the MSRP
irregardless of what the going rate is, or the fact that this "new" car depreciates
70% in the first few feet it's driven.