The quest for an Olympic gold medal is a long one, but imagine coming home with the winnings and glory only to be hit with a huge tax. Olympic winnings are taxable for Americans, according to FOX news.
Podium athletes receive checks -- $25,000 for a gold medal, $15,000 for silver, and a bronze will bring in $10,000. Depending on overall income, an athlete's medals could be taxed up to 35 percent.
Marco Rubio is proposing a tax break for Olympians when they come back home after competition, saying they represent the nation and should be able to keep their winnings.
Tax analysts would disagree with Rubio. Adding another break to the US tax code may only complicate a much needed overhaul.
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