I wonder if her intention might run afoul of IRS rules. Assuming she gets a 1099 showing that she won $1 million, then she shows $1 million of itemized charitable deductions on her 2008 Schedule A, she won't get full credit for her itemized deductions. Up to 80% of itemized deductions are disallowed (phased out) for high income earners. With an income of more than $1 million, she would fall into that category. So if she really gives away the million, she may still owe substantial taxes, and may wind up in bankruptcy.
There may be smart accountants who know how to get around this. I hope so. The obvious best option would be never to take possession of the money, and request that the show donate it directly to the intended beneficiaries. But it's not clear whether that is an option.
The article also says that a local politician ran an ad during the Atlanta broadcast of the show, critical of the winner (a teacher) for going on a game show when local schools are in trouble. What a loser! I hope the voters send him a strong and clear message that he needs to find a different line of work.
****MOVE OVER, NANCY & JESSICA: GEORGIA SCHOOL SUPERINTENDENT WINS $1M ON "5TH GRADER"
Nancy Christy now has lots more company. For five years, she sat alone as American game shows' only female millionaire. Monday night, Jessica Robinson---soon to be from Austin, Tx.---joined Christy when she won $1 million on "Deal or No Deal."
Friday night on Fox's "Are You Smarter Than a 5th Grader?," Georgia School Superintendent Kathy Cox became the first to break the bank on the Mark Burnett game.
In the third season opener for "5th Grader," Cox became the third female millionaire in quiz/game show history when----with no help from the fifth graders and no cheats, she knew the World History question: who was the longest reigning British monarch. Answer: Queen Victoria, who was on the throne for 63 years.
She had nailed the $500,000 question (with a peek at fifth grader Olivia's answer---and ignoring it): which commanding British general surrendered to American troops in Yorktown in 1781 (5th grade U.S. History)? Answer: Cornwallis.
The show was taped August 6 and Cox took some political heat from one Democratic foe for appearing on "5th Grader." During the Atlanta airing on Fox affiliate WAGA, State Rep. Rob Teilhet of Smyrna bought an ad criticizing Cox for being on the show while "students are struggling in crowded Georgia classrooms." According to The Atlanta Journal-Constitution, that brought a chorus of boos from about 100 friends watching with Cox at Smokey Bones Bar and Fire Grill in Peachtree City near Atlanta.
Cox is donating her entire winnings to three schools: Georgia Academy for the Blind in Macon, Atlanta Area School for the Deaf in Clarkston and Georgia School for the Deaf in Cave Spring.
Host Jeff Foxworthy teased Cox unmercifully during the episode. Foxworthy lives in Alpharetta, a suburb north of Atlanta.