Can You Take Cash Instead Of Car On Wheel Of Fortune

Carole Stephens
• Friday, 15 January, 2021
• 7 min read

If you've ever wondered what happens after you win such a price, we've got a first-hand report from former Wheel of Fortune winner John Dean. He won the Mazda pickup pictured above way back in the 1980s, and while various contests can have different rules and requirements, Mr. Dean explains to us the process he went through to keep his truck and a bevy of other prices after his appearance on the show.

(Source: smallbusiness.yahoo.com)


I was on Wheel of Fortune in the mid-1980s, back when you weren’t allowed to keep the money you won on the show; you had to “spend” it on their in-studio showcase items. Actually, you were allowed to choose which grand prize you wanted to play for, so I picked the car.

Anna is directing me to the driver’s seat, and Pat Speak is quietly setting my lav mic down on the floor. We contestants were informed well ahead of time that we were responsible for any and all income taxes that were owed based on the stated value of any prize we won.

Mere Griffin Productions reported its stated value of the car (and all of my other winnings) to both the California Franchise Tax Board and to the IRS. My total take -home from all the prizes I won (furniture, exercise equipment, console TV, cases of Rice-a-Roni, but no cash) was $23,321.

You’re allowed by IRS rules to use the fair market value of any prize you win instead of what the game show says it’s worth. Game shows notoriously inflate a prize’s value, so I spent a good week or two looking around for those same (or similar) items in stores and catalogs.

About a month after the show aired, I got a phone call from the local Mazda dealership saying my car was ready for delivery. I hopped on my bike and rode the three miles down to the Mazda dealer in Torrance, California, signed a couple of title papers, and within maybe 10 minutes, they handed me the keys.

(Source: mas.txt-nifty.com)

By the way, the game show producers gave us three full days to decline any prizes we didn’t want to keep. For just $2,100 in taxes I got some very nice hand-crafted furniture, a stereo console TV (big stuff in the ‘80s), a home gym set, and a bunch of things I never would’ve considered buying for myself.

When my wife and I were married in 1987, those prizes helped furnish our first apartment, and, by the way, we both had cars that were fully paid for. Special thanks to John Dean for sharing his story and the VHS capture of that memorable day.

A lot of people would kill to get a shot at being on Wheel of Fortune ; you answer a few questions right and suddenly you're walking away with several thousand dollars. Most people probably think that winning on a game show like Wheel of Fortune is a dream come true; suddenly you have a ton of cash you hardly had to do any work for at all.

This means, of course, that winners don't just walk away with their pockets lined with a thousand dollar bills when they rack up the prizes on a program like Wheel of Fortune. Matt McMahan, who taped an episode of the show in July which just aired as the Season 34 premiere on September 12, walked away with $31,700 in cash and prizes, but he's definitely not going to be able to put that much into his bank account.

First, along with $16,400 in actual cash, Matt McMahan won two trips worth a total of $15,300 (a cruise down the Danube River which could take him through up to 10 countries, and a vacation to Chile). Adrienne Jones View Profile Bachelor Nation, Gilmore Girl; will Vulcan nerve pinch pretty much anyone if prompted with cheese... Yes, even Jamie Fraser.

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Well with 2 Million plus winners the others are just in a huge group of over twenty who have won the Hundred Thousand dollar price plus the winning that got them to the bonus round. Wheel of Fortune is not a skill based game and no one wins a second game because they won the first like in Jeopardy The $1,000,000 prize has been awarded twice: to Michelle Loewenstein on the episode that aired October 14, 2008, and to Autumn Erhard on the episode that aired May 30, 2013.

Contestants who win the $1,000,000 may receive it in installments over 20 years, or in a lump sum of that amount's present value. Fraud would be a legal term and might not be accurate to reflect that it is a TV Show.

Wheel Of Fortune is a game show designed for entertainment. Pat Speak after spinning the Wheel for so many years must have developed some skills.

Only U.S. Olympic athletes are liable to pay income tax on medals earned and prizes received at the London games. Under U.S. tax law, they must add the value of their Olympic medals and prizes to their taxable income.

It's simply a standard security protocol for logging into your Wheel Watchers Club account on the new site. A: Toucan check your SPIN ID on the homepage or request a password reset here.

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Due to high volume, password resets can take up to 24 hours to arrive via email. If you need further assistance, submit your inquiry via the CONTACT US page located here or call our customer service line at 1-866-556-7669.

The chance to win $10,000 Easy entry into all our amazing giveaways Exclusive updates including: Notice of upcoming sweepstakes and giveaways Messages from Pat & Anna News about the show, our contestant and our hosts Details about how you can apply to be a contestant Exclusive offers from our prize providers and partners Discounts at the Wheel of Fortune store Exclusive content from local entertainment correspondents across the nation A SPIN ID gives fans special opportunities to win big, just like our contestants.

A: Toucan ONLY get your unique SPIN ID by joining the Wheel Watchers Club online. A:Upon successfully registering for the Wheel Watchers Club, you'll be assigned a unique SPIN ID right away.

A:Visit WheelofFortune.com and log in to your Wheel Watchers Club Account at the top of the page. A:All SPIN ID numbers are equally weighted in their chances at being selected as a winner.

All potential winners are randomly drawn from among all eligible and active SPIN IDs, regardless of the number of characters. As long as you have logged in to the Wheel Watchers Club one time in the six months prior to the drawing date (see each giveaway's official rules for registration deadlines), you're eligible for a chance to win.

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(Source: courtweek.com)

Once complete, your SPIN ID will appear in the upper right corner of the screen. Canadian residents, excluding those from Quebec, are now welcome to join the Wheel Watchers Club.

NOTE: A few of our giveaways operate on a different schedule and will therefore have different rules regarding extra entries. A:When you sign up for the Wheel Watchers Club, toucan choose to receive our fun newsletter, which may include info regarding giveaways, contestant auditions and more.

Toucan change your email settings on your Wheel Watchers Club profile. A:Please check that caps lock is not engaged, and be aware that passwords are case-sensitive.

If you do not receive the email with the rest password link within 10 minutes, please check your spam or junk folder. If you experience issues when you're resetting your password, and you're sure it meets the above requirements, we recommend switching internet browsers or devices or updating your current browser to the latest version.

If you have forgotten or changed the email address you used for registration, please contact customer service by using this form or calling 1-866-556-7669. Your email address may have changed since signing up for the Wheel Watchers Club and may need to be updated in your profile.

To find out when tickets will be available, sign up for our newsletter by joining the Wheel Watchers Club, or follow us on Facebook, Twitter and Instagram. During the audition, you’ll play a series of toss-up puzzles, talk about yourself and take our puzzle-solving test.

* You are not eligible to be a contestant on Wheel of Fortune if you work for, or are related to, anyone who works for Sony Pictures Entertainment Inc., Sony Pictures Television Inc., Sony Electronics Inc., Sony Pictures Television International, Quadrat Productions, Inc., CBS Television Distribution Group, Interactive Solutions Group, The Visionary Group, Metal Toad, Promotional Consideration Inc., Limit Proprietary Loyalty U.S. Inc., Salesforce.com, Inc., game show prize suppliers, or any TV station (including its advertisers and affiliated radio stations), or networks broadcasting Wheel of Fortune or Jeopardy!. A:The Wheel mobile is currently parked, but once we’re back on the road, the best way to find out where we’re headed is to join the free Wheel Watchers Club.

Another way to stay up to date is by following us on Facebook, Instagram and Twitter, and by tuning into Wheel of Fortune every weeknight. It's important that the game moves along quickly and that the players are decisive in calling out their letters with a strong, confident voice and in choosing their game strategy (whether to spin, buy a vowel or solve the puzzle).

It's been our general observation through the years that contestants who play with energy, poise, focus and a sense of humor (without forgetting to call smart letters) tend to do better on the show. Most contestants, at the end of a show, say that it was more difficult than they expected, and that it was the quickest, most exhilarating time of their lives.

A:Contestants typically receive their cash and/or prizes within 120 days after the broadcast of the show. The cash and prizes are considered income by the IRS, so the contestant is responsible for paying state and federal taxes on them.

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