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By The Numbers: It's taxing to be a medalist

August 1, 2012 | 3:59 pm | Modified: August 1, 2012 at 4:05 pm
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$8,986: The amount an Olympic gold medal winner owes to the IRS in taxes for the $25,000 honorarium that comes with the medal, according to Americans for Tax Reform. The figure includes the tax on the value of the gold in the medal.

$2: The amount owed by bronze medal winners for the bronze itself, plus $3,500 in taxes for the $10,000 honorarium. Sen. Marco Rubio, R-Fla., proposed a bill Wednesday that would exempt the Olympic honoraria and the value of the medals from federal taxes.

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