Truck driver wins Lamborghini, crashes it hours later

Actually the guy in the Veyron got in trouble for insurance fraud because the youtube video shows him driving into a lake deliberately, when he said he swerved to avoid a seagull.

 

If it was me that won that car, i would have sold it the same day to a dealer or a rich person and got the money and paid cash for a nice house in the woods and live like a king.

 

you still have to pay the tax on the car, crazy american taxes

 

Why would i have to pay taxes on a car i sell the same day i win it?

 

Winnings from Gambling, Lottery and other such items are taxable under the federal tax laws.

 

Well, if i sell the car to someone i will still have to pay taxes on the money i receive from the person anyway so what's the difference? That still will not stop me from getting my house anyway.

 

You pay tax on the FMV of the gift received. In this case, we say 200,000.

You sell the car for 150,000.

You pay tax on the 200,000 not the 150,000.

 

So how much tax i will be paying on 200,000? I think i should still have enough left over to get a house and a peice of land.

 

Depends on your bracket.

28% federal and then there is state taxes to start with.