The winner of the sweepstakes, Crystal Harriman, of Poulsbo, Wash., decided not to keep the 1,300-square-foot, two-bedroom bungalow after she won the hgtv Urban Oasis Giveaway 2015.
Enter the Dream Home Sweepstakes But Don't Fixate on the House.
How can you handle all of that and still end up millions of dollars richer than before you won the prize?She was grateful that she could share the moment with loved ones.But zoning regulations prevented either idea from working out, and the Cruzes ended up having to put the Dream Home on the market to pay the bills they have racked.You can also try to set up a discount trips to costa rica payment plan with the IRS.Sangalang is florida today 's entertainment reporter and Nerdgirl columnist.Simons Island later this month to see the home for the first time.The Cruz family intended to either sell the lake cottage or to turn the house into a Bed and Breakfast to generate income.Even after paying their taxes, Dream Home winners come out way ahead.Find out whether winning the Dream Home is worthwhile from someone who is in the best position to know.Other Ideas for Handling the Dream Home Taxes.
Sell, refinance, make a deal with the IRS, or something else altogether?In their article, is It Really a Dream Come True?, msnbc"s hgtv spokeswoman Emily Yarborough as saying: "Our vision of the dream is that it enables you to do what you want.".Charitable donations are often tax-deductible, and this may help make the costs more affordable, especially combined with some of the other options.The 2005 hgtv Dream Home Was a Dream for Its Winner, Even If He Couldn't Keep.To decide what is right for you, you should get professional help.They really do award amazing prizes to lucky winners on a regular basis.One obvious way to help pay off the costs of winning is to put that beautiful home to work for you, for example, by renting it out.The very first thing that you should do if you win the Dream Home Sweepstakes, or any large sweepstakes prize, is to hire an experienced accountant to help create a plan that will allow you to make the most of your windfall.However, the dream also has a dark side: winning such a huge prize comes with an equally huge tax hit.
USA today hgtv dream home sold to North Carolina couple It previously listed for 490,000, according to the Citizen-Times in Asheville,.C.