Here is what I found with google... 12/11/25 05:52 AM
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Yes, the 2nd and 3rd place teams on the American version of The Amazing Race receive prize money, though the amounts are significantly less than the $1 million awarded to the winner. Reported prize amounts (before taxes) are as follows: 2nd Place (Runner-up): $25,000 3rd Place: $10,000 These amounts are based on contestant reports and fan sites, as the official show does not publicly confirm the non-winning payouts. All teams also receive a stipend for participating in the race, with the amount increasing based on their finishing position. It is important to note that all prize money and leg prizes (such as trips) are considered taxable income.
Still, I am not sure if taxes are removed before the prize is paid out or not. I kinda doubt it, I think it is up to the taxpayer to pay any taxes due, but there may be state laws involved that I am unaware of.
Here is what I found with google...