Olympic athletes face tax on medals

Team USA's medal count is growing at the Olympics. But those medals can come with a cost to the athletes-- literally.
When the olympic champions return to the U.S., they have to pay taxes on their winnings.
Athletes win $25,000 for gold medals, $15,000 for silver and $10,000 for bronze.
Winners also have to pay taxes on the value of the medal. A gold medal is worth about $675. Claiming that medal could cost an athlete about $236 in taxes.
That means a decorated Olympian like Michael Phelps could owe more than $100,000 in taxes on prize money and medals.
One U.S. Senator has introduced a bill to get rid of those taxes.