Record cash and noncash prizes, dates, values, fees and operator documents so you can check tax guidance for the right year and jurisdiction.
Keep a separate record for each prize you receive. Save the confirmation from the operator and evidence of what actually arrived. If a request crosses a calendar year, keeping both the request date and the receipt date helps you answer questions about timing later.
| Record | Example entry |
|---|---|
| Operator, reference and method | Operator name, request number, gift card delivered by email |
| Dates | Date requested, date approved and date received |
| Amount or item | Stated prize value, currency, any fee shown and amount delivered |
| Supporting documents | Confirmation, bank or gift-card receipt, and any tax statement supplied |
Why keep noncash prize details?
The 2025 edition of IRS Publication 525 discusses prizes and awards. For prizes in goods or services, the fair market value can matter. Keep the description and the evidence for the value at receipt. An in-game balance and a delivered prize are different records. If your account history contains both, label them separately. IRS Publication 525
What if the figures disagree?
Compare the operator statement with the transaction record and ask the issuer about the difference. Keep the original, any correction and the correspondence together. For filing decisions, use guidance for the relevant tax year and jurisdiction or take the records to a qualified adviser. IRS publication and revision information
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