How to Know the Tax Amount I Need to Pay for the Items I Received from the Intel® Retail Edge Program (Intel® REP)?
Content Type: Product Information & Documentation | Article ID: 000093866 | Last Reviewed: 04/26/2023
The total amount taxpayers need to pay each year depends on the total prize value of each item won in a specific year. All taxable items can be found in the Prize Portal. If the total taxable amount exceeds $600, users need to pay the tax.
To access the Prize Portal, follow the steps below:
Taxpayers must report the fair market value of merchandise or products won as a prize or award, as taxable income if totaling $600 or more. The Substitute W9 will help you to complete the necessary tax return forms in order to report your prizes as taxable income.