The Nobel Prize
There are a few things that are not taxable in this world, but the Nobel Prize is not one of them. With an estimated value of over $900,000 (in 2019), people who have the prestigious honor of winning such an award must pay taxes on it.
Other awards such as the Pulitzer Prize for journalists are taxable as well. The only method to avoid taxes is to give the money to a tax-exempt charity before receiving it, like President Obama in 2009. It won’t work if you accept the prize and then direct the money to charity because charitable deductions are limited to 60% of your adjusted gross income.
