Be the most informed person in the room with Newsy's free e-newsletter

View our privacy policy: http://www.newsy.com/privacy/

Winning That Olympic Medal Is Amazing, But It'll Cost You

For every win, Olympians can be taxed thousands of dollars.
SMS

Ah, Olympic medals. They're shiny, meaningful and apparently expensive as hell for the athletes. 

For every medal an American athlete wins, the U.S. Olympic Committee drops some cash. For every gold, you get $25,000. For every silver, $15,000. And for every bronze, you get $10,000. 

SEE MORE: Rio Safety Concerns Highlighted Again After 4 US Swimmers Robbed

But those big Olympian smiles probably change just a bit when the victors realize Uncle Sam is coming. 

According to Americans for Tax Reform, Olympians could pay as much as $9,900 for gold, $5,940 for silver or $3,960 for bronze. PER MEDAL.

But luckily, a bill in the House right now would make medals and prize money tax exempt. It's already passed the Senate

Featured Stories
Rep. John Lewis speaks at a podium

Democrats Are Boycotting The Inauguration Ceremony En Masse

A graphic of Donald Trump taking the inaugural oath

The Attendance, Cost And Other Big Numbers Behind Trump's Inauguration

The U.S. Supreme Court building

Lawsuit Over Detainee Mistreatment After 9/11 Reaches Supreme Court

Want to see more stories like this?
Like Newsy on Facebook for More Olympics Coverage