The Tax Court had previously addressed this issue in Hornung v. Commissioner. Paul Hornung, a football player for the Green Bay Packers, won a Corvette as a prize on December 31, 1961, for his performance in the 1961 NFL Championship Game.
The Tax Court previously ruled on this issue in the case of Hornung v. Commissioner. Paul Hornung, a football player for the Green Bay Packers, won a Corvette as a prize on December 31, 1961, for his performance in the 1961 NFL Championship Game.