2008 Elite Choice Team Competition Status Master Thread
Mar 4, 2010, 8:42 am
#1651
Join Date: Mar 2010
Posts: 1
I claimed $2,080 as FMV as bmvaughn's logic in a previous post seemed to make a good deal of sense. I used turbotax, so it was *very* easy to just enter in the original amount of $5,700. The next screen that poppedup asked me what the FMV was and automatically entered it which made it very easy.
Looking at a pdf of my taxes, it appears that on the "other income statement" on line 2b for "winnings, prizes, etc" is where the $5,070 went. Further down the page on line 17, "other taxable income" is listed and typed in is "Adjustment to market value of prizes" with a "$-3,620" entered for an amount.
Hope that helps.
Looking at a pdf of my taxes, it appears that on the "other income statement" on line 2b for "winnings, prizes, etc" is where the $5,070 went. Further down the page on line 17, "other taxable income" is listed and typed in is "Adjustment to market value of prizes" with a "$-3,620" entered for an amount.
Hope that helps.
Mar 21, 2010, 7:12 pm
#1652
Join Date: Nov 2005
Location: LAX/BUR
Posts: 2,012
As far as I know, there were no systemwide upgrades awarded for this competition, only regionals.
Aug 17, 2010, 8:59 am
#1653
Join Date: Aug 2007
Location: Near SEA
Programs: UA MM, AS MVPG75K, Marriott Lifetime Gold
Posts: 7,969
I know a lot of folks asked for the PDF of RCC charges - curious of the folks that used my #, was anyone audited?
Aug 17, 2010, 9:34 am
#1654
Join Date: Jan 2003
Location: Las Vegas, NV, USA
Programs: UAL IK;Marriott Plat Elite;Hyatt Diamond;Hilton Gold;Hertz Presidents Circle
Posts: 1,567
It is usually 2-3 years down the road when that occurs...
Apr 6, 2011, 12:55 am
#1655
Join Date: Dec 2006
Location: SEA
Programs: free agent
Posts: 330
i just received notice i was being audited for this particular reason. guess i'm the winner. bmvaughn - still have the pdf?
Apr 6, 2011, 8:06 am
#1656
Join Date: Aug 2007
Location: Near SEA
Programs: UA MM, AS MVPG75K, Marriott Lifetime Gold
Posts: 7,969
I've received PMs from another flyer that they were being audited for this reason. I still have the PDF somewhere, PM me.
Apr 27, 2011, 6:23 pm
#1657
Join Date: Apr 2008
Location: LGB/LAX/SNA
Programs: UA *G .64MM; AmEx Plat freebies (HH Gold, Marriott Gold)
Posts: 260
Apr 27, 2011, 7:11 pm
#1658
Join Date: Aug 2007
Location: Near SEA
Programs: UA MM, AS MVPG75K, Marriott Lifetime Gold
Posts: 7,969
If folks get audited, PM me with your email address and I can send you the PDF of the RCC cost.
And here's the post about the valuation I arrived at:
http://www.flyertalk.com/forum/13172355-post1620.html
And here's the post about the valuation I arrived at:
http://www.flyertalk.com/forum/13172355-post1620.html
I took a PDF screenshot of the RCC cost (miles or $$) on 2/27/09 when I received my miles. At the time, an RCC membership to a GM would cost $500 or 70,000 RDM, the coversion rate therefore being $0.0071 per mile.
This then values the RDM at $1,785.71.
With the CR-1s the same as 15,000 miles, that ascribes a value of $107.14 using the same conversion factor.
One-time RCC passes are $40.
The total FMV in my mind is $1785.71 + 2x$107.14 + 2x$40.00 = $2,080.00.
This then values the RDM at $1,785.71.
With the CR-1s the same as 15,000 miles, that ascribes a value of $107.14 using the same conversion factor.
One-time RCC passes are $40.
The total FMV in my mind is $1785.71 + 2x$107.14 + 2x$40.00 = $2,080.00.
May 1, 2011, 5:16 pm
#1659
Join Date: Jan 2007
Location: Denver, CO
Programs: Marriott Platinum Premier, UA 1K
Posts: 375
May 2, 2011, 2:18 pm
#1660
Join Date: Apr 2008
Location: LGB/LAX/SNA
Programs: UA *G .64MM; AmEx Plat freebies (HH Gold, Marriott Gold)
Posts: 260
May 2, 2011, 4:53 pm
#1661
Join Date: Jan 2003
Location: Las Vegas, NV, USA
Programs: UAL IK;Marriott Plat Elite;Hyatt Diamond;Hilton Gold;Hertz Presidents Circle
Posts: 1,567
As someone who has been asked for documentation before on specific items, they did not trigger any future requests, in fact, the documentation seemed to take care of requests in subsequent years. In my case there was differences in amounts on 1099-INT and my return due to incorrect SS# on the 1099-INT by the lender. I only had to show it once, even tho the same data was on 5 returns. So, hopefully, all will work out for us all!!!!!
May 2, 2011, 7:58 pm
#1662
Join Date: Apr 2008
Location: LGB/LAX/SNA
Programs: UA *G .64MM; AmEx Plat freebies (HH Gold, Marriott Gold)
Posts: 260
CR1 value PDF?
Does anyone have a screen shot of the 2009 miles redemption chart? Now there are co-pays but at the time we received the prize it was all under the old system still... I'm looking for something I can use to establish that a CR1 is equivalent to 15,000 miles to keep the IRS folks happy on my first submittal of proof of the lower prize value.
Thanks in advance,
Laura
Thanks in advance,
Laura
May 2, 2011, 9:56 pm
#1663
A FlyerTalk Posting Legend
Join Date: Apr 2004
Location: GVA (Greater Vancouver Area)
Programs: DREAD Gold; UA 1.035MM; Bonvoy Au-197; PCC Elite+; CCC Elite+; MSC C-12; CWC Au-197; WoH Dis
Posts: 52,140
But here's an October 2007 copy. Showing it was 15K back than and still 15K should certainly suffice. http://replay.web.archive.org/200710...e=RelatedLinks
Last edited by mahasamatman; May 2, 2011 at 10:02 pm
May 3, 2011, 12:36 am
#1664
Join Date: Feb 2008
Location: Lahaina, HI & Los Angeles, CA
Programs: UA GS
Posts: 2,403
Highly unlikely unless there are deductions considerably outside the norm, or other income reported to the IRS on 1099's that were not declared on your return.