An Xbox player from the United States, has won a Lifetime Game Pass subscription thanks to the Microsoft Rewards prize, however, he had surprised everyone by declining the gift. For those who don’t know, Game Pass is a subscription service offered by Microsoft which allows users to access a wide selection of video games, including Xbox exclusive titles, on both Xbox and PC.
With an active subscription, users can download and play any game available in the catalog GamePass, without having to buy them one by one. In addition, Game Pass also offers additional benefits, such as discounts on purchasing additional games and content, as well as access to new games on the same day they are released.
Expensive gift
The lucky winner of the promotion, which is offering a free 40-year Xbox Game Pass subscription, explained that he was forced to decline the prize because of the taxes he would have to pay on the extra income he would have received on his taxes. return. . Had he accepted the award, he would have had to pay another $1,752 in taxes.plus the amount of taxable income of $7,300 added to your tax return.
While many users would love to get a lifetime subscription to Xbox Game Pass, this user pointed out the importance of reading fine print and understand the tax implications of receiving such an award.
Gifts have to pay taxes, this raises a good argument
This shows that not all countries are equal with taxes, for example in the UK or Australia “gifts don’t count as income, so you don’t have to pay tax” or report it.
Water fountain: Reddit
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