Saw this on a friends Facebook page:
And here’s a another opinion on the issue
Basically, if you win an Olympic medal you get a monetary award: $25k for a gold, $15k for silver and $10k for bronze. That’s apparently taxable income in the United States. It seems some feel it shouldn’t be. I don’t have a fully formed opinion on this yet, but I’m leaning toward, “Fine, tax the medals, I don’t really care.” Olympic athletes do put in a lot of work and make sacrifices for their sport, but I’m not sure this is sufficient reason to get out of paying taxes on their winnings.