Following a historic run on the iconic game show "Jeopardy!," longstanding champion Amy Schneider finally met her match.
What Happened: Schneider, a software engineering manager from Oakland, was dethroned Wednesday night by Rhone Talsma, a librarian from Chicago, bringing Schneider's 40-game winning streak to an end.
Schneider's streak will officially go down as the second-longest of all time, just behind current "Jeopardy!" host Ken Jennings’ impressive record of 74 consecutive games.
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Why It Matters: Schneider will depart from the game show with total winnings of about $1.4 million, but tax implications will eat into her profits.
With earnings topping $1 million, the "Jeopardy!" contestant will be placed in U.S.'s top tax bracket and face a 37% federal tax rate on at least some of the prize money. Being from California, she will also face one of the country's highest state tax rates.
Schneider will likely owe more than $600,000 in taxes on her winnings, leaving her with about $750,000.
"It’s really been an honor,” Schneider said in a press release. "Just to really know that I’m one of the most successful people at a game I’ve loved since I was a kid … and just to know that I’m part of its history now — I don’t even know how to process it."
Schneider will probably start to process the incredible feat by focusing on her tax bill. Many game shows do not withhold any of a contestant's winnings for tax purposes, which leaves it up to the winners to correctly report and submit tax payments.
"Jeopardy!" is currently produced by Sony Pictures Television, part of Sony Group Corp (NYSE:SONY).
Photo: Courtesy of Jeopardy Productions
