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<p>[QUOTE=&quot;NorthKorea, post: 1863284, member: 29643&quot;]Also, I just thought about this, the $25k would be income earned abroad, so if they&#039;re taxed by the Russian gov&#039;t it *might* be tax-free in the US, assuming they don&#039;t have other income earned abroad in 2014. Otherwise, I&#039;m pretty sure it&#039;s treated as ordinary income for tax purposes, subject to whatever your bracket is. Any claims that you&#039;re paying $10k (or any number near that) on the medals themselves are politically driven. The taxes due are mainly on the prizes awarded by the USOC. The medals themselves are *worth* (valued for taxes) by the medal content, which works out to $600 or less at the time of award.[/QUOTE]</p><p><br /></p>

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