Property Raffles

[Sheryl LaMotte]

Question on property raffles. If you work with an NPO to raffle your property and your property is worth $500,000. You sell tickets for $100. so you need 5000 tickets to sell for your property. What if the NPO can sell 6000 tickets. The NPO keeps the $100,000. the property owner accepts what their property was appraised at. Does the winner have to pay tax on the $500,000 or $600,000.