How to divide winning amongst a group

[Ron Ribbons 0]

If an entry has 3 or 4 co-managers and you win, what’s the best way to distribute winnings so that one person doesn’t get a 1099 for the whole amount?

[Alex 1]

From the rules:

Prize splitting amongst principal participant and their co-managers is available. The principal participant will always remain the sole legal prize winner and MUST authorize payment to his co-manager in writing. The principal participant will fill out and sign the authorization form indicating the name & address of his co-manager and the amount he should receive. Both the principal participant and the co-manager will each fill out a W-9. Once these documents are received and approved by FFPC, LLC. the prize monies will be released to both parties. At year's end, both the principal participant and the co-manager will each receive IRS Form-1099 for their prize awards. Limitations to prize splitting: prize splitting is limited to TWO persons only: the principal participant and the co-manager. Under no circumstance will FFPC, LLC. issue payment to anyone other than these two persons. Only total prize awards of $2,000 or greater will be eligible for prize splitting. This may can be a combination of any CASH prizes won in any FFPC tournament, league or contest. FFPC Dollars or any non-cash prizes are not applicable for prize splitting. Each share of prize split awards must be a minimum of $600. FFPC, LLC. may, at its own discretion, refuse to accept any prize splitting request and process the entire award to the principal participant. Please email info@myffpc.com with any further questions regarding the prize splitting process.