I don't think so, my friend just got $90k off a new exotic car, and that was that, no 1099.....
offering a discount vs "prize" is what I'm saying....
offering a discount vs "prize" is what I'm saying....
It never works that way. Any taxing authority will go by the fair market value of the prize, not the actual selling price, i.e. $1.
And yes, if someone is getting a $100k Model X for $75k, they'll have to pay the tax on the $25k. Tesla will likely send them a 1099 for that amount, since they'll also be writing off the same $25k. There are no shortcuts.
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