Do you pay taxes on HGTV dream home?
If you’re lucky enough to win an HGTV Dream Home, you’ll be responsible for federal income taxes on the value of the property or improvements, plus state income tax, depending on your state of residence.
What are the taxes on the HGTV Dream Home 2020?
The Dream Home grand prize—typically $250,000 in cash, a car, and sometimes a boat, in addition to the home itself, usually valued at $1 million or more—comes with a federal income-tax bill of about $700,000, according to an analysis by Vocativ, plus state income and real-estate taxes that vary by location.
How much is HGTV Dream Home 2021 worth?
Meet the lucky winner of HGTV Dream Home 2021 in Newport, RI. Congratulations to Jeff Yanes of Austin, Texas; he is the winner of the HGTV® Dream Home 2021 sweepstakes, a grand prize package valued at over $2.8 million dollars.
How much is the cash option for HGTV Dream Home?
In lieu of taking title to the HGTV Dream Home 2021 (and the contents of the HGTV Dream Home 2021), the Grand Prize Winner will have the option of receiving Seven Hundred and Fifty Thousand Dollars ($750,000) in cash (the “Cash Option”).
Has anyone kept the HGTV Dream Home?
In February 2018, Country Living magazine reported that of the first 21 winners of the sweepstakes, only six actually lived in the home for more than a year. “The vast majority either took the cash alternative or sold the house back to the developer within a year of winning,” the report says.
Where is the HGTV Dream Home 2021?
Newport, Rhode Island
Did anyone win the HGTV Smart Home?
The winner of the 2019 HGTV Smart Home is Maureen Rustrian of Basking Ridge, New Jersey, whose name was drawn from among 97 million entries. HGTV ambushed Maureen’s husband first and asked him to help them plan the perfect surprise.
Who is the winner of the HGTV Dream Home 2021?
Jeff Yanes
How tall is Brian Patrick?
1.93 m