are taxable income but are not gambling winnings.

Prizes won in drawings, quiz shows, beauty contests, photo contests, etc. If future payments are sold for a lump sum, report the amount received from the sale in the year received. If winnings are paid in installments, include in income the amount received in the tax year including interest. It includes cash winnings and also the fair market value of prizes such as cars and trips. Gambling income includes, but is not limited to, lottery, raffle winnings, horse races, and casinos.