Taxes are done

Message

ladysoleil · #26 Post by **ladysoleil** » Fri Apr 11, 2008 10:58 am

I just finished getting mine done.

Ouch. I'd forgotten or rather been in denial about the Play It! cruise. Granted, I knew there would be taxes, but had I known how much I would get nailed for, I would have passed.

In further irony, I had to raid this year's vacation fund to pay for the "free" cruise. *sigh* Live and learn. I now know to beware of mice bearing gifts.

MarleysGh0st · #27 Post by **MarleysGh0st** » Fri Apr 11, 2008 11:09 am

When you go on a free cruise, Uncle Sam cruises with you!

ladysoleil · #28 Post by **ladysoleil** » Fri Apr 11, 2008 11:52 am

MarleysGh0st wrote:When you go on a free cruise, Uncle Sam cruises with you!

I don't mind his company in small doses. But I wish he'd pick up the bar tab once in a while!

#29 Post by **Bob78164** » Fri Apr 11, 2008 12:42 pm

ladysoleil wrote:I just finished getting mine done.

Ouch. I'd forgotten or rather been in denial about the Play It! cruise. Granted, I knew there would be taxes, but had I known how much I would get nailed for, I would have passed.

In further irony, I had to raid this year's vacation fund to pay for the "free" cruise. *sigh* Live and learn. I now know to beware of mice bearing gifts.

When I won the big prize, I asked Ms. 63 to check various travel sites to determine how much it would have cost us to purchase it. The amount was substantially less than Disney claimed it was worth on the 1099. On my taxes, I claimed the smaller amount, not what Disney reported on the 1099. (Of course, I keep my research results with that return, in case I'm ever audited.) I'm guessing they claimed full retail price for the cruise, whereas if you purchased it in advance you could have received a substantial discount for the same accommodations. --Bob

ladysoleil · #30 Post by **ladysoleil** » Fri Apr 11, 2008 12:51 pm

Bob78164 wrote: When I won the big prize, I asked Ms. 63 to check various travel sites to determine how much it would have cost us to purchase it. The amount was substantially less than Disney claimed it was worth on the 1099. On my taxes, I claimed the smaller amount, not what Disney reported on the 1099. (Of course, I keep my research results with that return, in case I'm ever audited.) I'm guessing they claimed full retail price for the cruise, whereas if you purchased it in advance you could have received a substantial discount for the same accommodations. --Bob

Bingo. I did have my friend the travel agent run me a quote for the package in order to attempt to knock down the price, but because it wasn't far enough in advance, it was almost identical to Disney's 1099. Disney doesn't seem to discount their cruises often, where Carnival practically gives unsold cabins away before a sailing. We waited until down to the wire to book so we didn't have many options left.

I'm not excessively bitter, it was fun. Overpriced fun, yes, but fun nonetheless. We probably wouldn't ever have taken a Disney cruise otherwise. There's no way I'd ever pay that much for a 3 day in this lifetime, so it was a cool opportunity to have.

Bob Juch · #31 Post by **Bob Juch** » Fri Apr 11, 2008 1:00 pm

Bob78164 wrote:
ladysoleil wrote:I just finished getting mine done.

Ouch. I'd forgotten or rather been in denial about the Play It! cruise. Granted, I knew there would be taxes, but had I known how much I would get nailed for, I would have passed.

In further irony, I had to raid this year's vacation fund to pay for the "free" cruise. *sigh* Live and learn. I now know to beware of mice bearing gifts.
When I won the big prize, I asked Ms. 63 to check various travel sites to determine how much it would have cost us to purchase it. The amount was substantially less than Disney claimed it was worth on the 1099. On my taxes, I claimed the smaller amount, not what Disney reported on the 1099. (Of course, I keep my research results with that return, in case I'm ever audited.) I'm guessing they claimed full retail price for the cruise, whereas if you purchased it in advance you could have received a substantial discount for the same accommodations. --Bob

The amount they valued the shirts and pins was grossly overvalued, so I'm not surprised the cruse was too.