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Have You Thought About Taxes on the HGTV Dream Home?

Posted January 11th, 2008 at 4:53pm by wolflady26
If you happened to be lucky enough to win the HGTV Dream Home, have you thought about the tax consequences? A general rule of thumb says that state and federal taxes come to about 30% of the value of a sweepstakes win (though that number will vary depending on your individual tax status). However, that means you can expect an increase of somewhere around $700,000!

Most of us couldn't scape up an additional $700,000 easily. However, that doesn't mean the Dream House Giveaway isn't...

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