FlyerTalk Forums - View Single Post - Taxable Valuation of Miles Won in Sweepstakes
Old Jan 10, 2005 | 3:12 pm
  #37  
Efrem
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Originally Posted by Ken in Phx
Oops, then I stand corrected. Note: THis is not the first or the last time THIS will happen.
You weren't entirely wrong. If you use the formulas instead of the tables, you were correct. If your taxable income comes out near the bottom of a table bracket, as cordelli's must have been, using the formulas will often save a few $$.(If your income is high enough, you have to use the formulas. The tables only go up so far.)
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