1963 corvette raffle won by 86 year young lady

[jimbo64]

Was reading yesterdays Elmira, New York paper and the headlines said that the 1963 frame off restored vette that was raffled off by Notre Dame High School was won by an 86 years young lady that had bought 4 chances for $100. Car is white with both tops and does look beautiful. Saw it at the mall
at Christmas time. She's not sure what she is going to do with it. Think her grandchildren have some ideas but she says she might sell it. The school had a $49994 value on it. Think it was bought at Pro team. Anyway bad news is I didn't win. Wife really liked it. :cry

 

[TWINRAY]

Was reading yesterdays Elmira, New York paper and the headlines said that the 1963 frame off restored vette that was raffled off by Notre Dame High School was won by an 86 years young lady that had bought 4 chances for $100. Car is white with both tops and does look beautiful. Saw it at the mall
at Christmas time. She's not sure what she is going to do with it. Think her grandchildren have some ideas but she says she might sell it. The school had a $49994 value on it. Think it was bought at Pro team. Anyway bad news is I didn't win. Wife really liked it. :cry

Bad news to her is that she will have to pay taxes on the 50K value. Some of these deals say you can take a cash settlement in lieu of the vehicle and normally the cash is much less than the actual value of the car. What I think you can do then if you take the car is use the value of the cash payment when you do your taxes.