Ouch! Jeopardy champ likely owes $1.2M in taxes

Comment #8

eddessaknight — Sat, 08 Jun 2019 02:10:39 GMT

Can't make that kind of money without owing up!

Comment #7

Coin Toss — Thu, 06 Jun 2019 04:48:05 GMT

@17:03 https://www.youtube.com/watch?v=CwgdVoDLHpY

Comment #6

Coin Toss — Thu, 06 Jun 2019 01:22:41 GMT

That $1399 bet was extremely small for him, he'd never bet that small on a Daily Double or a final Jeopardy. I'm thinking he just burned out on winning but there was a news item a few days prior to his last game when he mentioned his daughter wanted him to stop playing.

Comment #5

JAP69 — Wed, 05 Jun 2019 17:22:29 GMT

__________________________________ My wife watches Jeopardy and I asked her about his loss sometime after I read this. She said the same thing that he looked like he wanted to lose.

Comment #4

Coin Toss — Wed, 05 Jun 2019 17:18:43 GMT

It was almost like he wanted to lose. All three contestants got the final Jeopardy question right, something about Shakespeare and the answer was Marlowe, but his final Jeopardy wager was $1399. extremely low for him.

Comment #3

JAP69 — Wed, 05 Jun 2019 13:54:26 GMT

Did he answer wrong on who is buried in Grants tomb.

Comment #2

CARBOB — Wed, 05 Jun 2019 09:04:03 GMT

The government does not understand this type of logic they want as much as they can steal.

Comment #1

mikeintexas — Wed, 05 Jun 2019 06:08:03 GMT

I think these types of things, along with lottery winnings, should be taxed along the lines of capital gains - 15-20%, depending upon your other income. I don't understand why it's taxed as "ordinary income" b/c it's anything BUT ordinary income.

Original Blog Entry: Ouch! Jeopardy champ likely owes $1.2M in taxes

Coin Toss — Wed, 05 Jun 2019 00:59:35 GMT

'Jeopardy!' champ James Holzhauer likely owes $1.2 million in taxes

Jennings reacts to Holzhauer's 'Jeopardy!' loss

Holzhauer doesn't think he changed game forever

Jeopardy! champion and professional sports bettor James Holzhauer lost in his 33rd episode of the TV game show, which aired Monday, finishing $58,484 short of the all-time winnings record. (The show aired first on the CBS affiliate in Montgomery, Alabama, on Monday.)

Of course, Holzhauer, 34, won big. He made $2,462,216 in those 33 appearances, including the $2,000 prize he received for finishing second in his last show on Monday. Only one Jeopardy champion, Ken Jennings, has made more money ($2,520,700) and had more appearances (74).

The IRS also won big. All winnings on game shows are considered ordinary income, taxed up to 37% by the IRS. And most states have state income tax, too.

Even though Holzhauer is a resident of Nevada, the game show took place in California, which means he must pay taxes in that state, sports and betting website The Action Network reported. Combined, federal and California state taxes will put Holzhauer's net winnings at $1.29 million a 47.6% cut, the site said.

Despite not besting Jennings' record total winnings back in 2004, Holzhauer does hold the all-time record for the most money earned in a single Jeopardy episode $131,127 and also owns the record for the top four money-winning episodes.

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