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abbygirl
January 30th, 2006, 12:11pm
I know there have been many questions re 1099's before, but I wonder if someone can give me a suggestion in my case. I have gotten them before and have been able to substantiate a much lower ARV with paperwork and that has apparently satisfied the accountant and IRS, but this time it is not easy. I received a 1099 with an ARV of $5,000.
It was for winning a party for 10 with Jerry Remy, (which we attended and had a great time), BUT no way was it worth $5,000. and I would have never asked our guests to contribute either. We were picked up in a limo. I probably could find out how much that costs. We have food (a buffet - small,) And, all the beer we could drink. And we did get to meet Jerry Remy. However, it was not a private party. It was at a Pub and there were many other patrons there as well who won from other sources. I don't know how many beers were consumed, but it was not that many!!! What do you think I should do to find out an actual or more approximate figure?

bkstar
January 30th, 2006, 12:28pm
I know there have been many questions re 1099's before, but I wonder if someone can give me a suggestion in my case. I have gotten them before and have been able to substantiate a much lower ARV with paperwork and that has apparently satisfied the accountant and IRS, but this time it is not easy. I received a 1099 with an ARV of $5,000.
It was for winning a party for 10 with Jerry Remy, (which we attended and had a great time), BUT no way was it worth $5,000. and I would have never asked our guests to contribute either. We were picked up in a limo. I probably could find out how much that costs. We have food (a buffet - small,) And, all the beer we could drink. And we did get to meet Jerry Remy. However, it was not a private party. It was at a Pub and there were many other patrons there as well who won from other sources. I don't know how many beers were consumed, but it was not that many!!! What do you think I should do to find out an actual or more approximate figure?


You got to do the legwork on this one. Find out the cost of the limo - and if there are any minimum hours you have to have compared to how long you used it - companies differ on this. Also call the pub and find out prices on buffet. As for all the beer you can drink - watch out for this one - I have done parties (I do party planning 2x a year) and if they are charging you per bottle - it can get high as compared to you going to another bar and getting one - so you could be looking at 4.50 a bottle on the high end. The price to meet Jerry Remy - it all depends - they could be including a fee for meeting him - this can vary. Check out all the other stuff first and see what amount you come up with. Good luck!! THis one is tricky. Congrats sounded like a fun win.

bk