America's Next Top Model Winner Reveals Tax Bill Reality After Spending $100,000 Prize

America's Next Top Model Winner Reveals Tax Bill Reality After Spending $100,000 Prize

India Gants, the winner of America's Next Top Model's 23rd cycle in 2017, has publicly shared the financial reality behind her $100,000 cash prize. The 29-year-old content creator disclosed that she exhausted the entire sum within a single year and subsequently had to establish a payment plan to cover the hefty taxes owed on her winnings.

Rapid Expenditure and Tax Consequences

In a recent TikTok video, Gants recounted receiving a check for $100,000 with no taxes deducted after her victory. She explained that by the time tax season arrived a year later, the money was completely gone. "I know that sounds crazy, but I paid for a year upfront in a beautiful New York City apartment that my roommate was going to pay me every month to rent out. That was just over $60,000. Plus, I used a broker," she stated.

Gants admitted ignoring her parents' advice to set aside 30 percent of the prize for taxes, believing her modeling career would generate substantial income post-win. "I thought that after winning America's Next Top Model, $100,000 checks were going to be coming this way and that," she said. "Like I was going to be booking so many jobs. I just thought I had to pay to maintain this lifestyle of somebody who just won America's Next Top Model."

Financial Missteps and Long-Term Payments

The former model elaborated on her overspending, which included relocating from New York City to Los Angeles and covering expenses like dining, hairstyling, and wardrobe to uphold a perceived winner's image. "I thought I was going to be making so much money that even if I overspent, I would still be able to pay the $35,000, $40,000 in taxes it ended up being," Gants added. "I didn't need to put aside money from my prize money because I was gonna be making so much money, right? Wrong."

As a result, Gants found herself on a prolonged payment plan to settle the tax bill. "I thought receiving a $100,000 check was going to become routine, and I would have no problem paying the taxes whenever tax season came around," she reflected. "But of course, I did have a problem paying those taxes, and I had to go on a payment plan. And yeah, it was kind of crazy."

Reflections and Lessons Learned

Now approaching 30, Gants expressed regret and shared how her perspective has evolved. "If I had the $100,000 now, I would be spending it much differently, such as by investing it and using it to 'make more money,'" she noted. "But I didn't have the brain as a 19- or 20-year-old as I do as an almost 30-year-old. It is what it is. Do I regret it? Actually, probably yes, but the way I like to learn lessons is through making mistakes. So I definitely learned some good lessons, and learned a lot about finance and financial planning."

Broader Context of ANTM Winners' Experiences

Gants is not the only America's Next Top Model winner to speak out about prize-related issues. Adrianne Curry, the inaugural season winner, previously claimed she never received the promised lucrative Revlon contract, instead describing a "f***ing humiliating" gig that paid only $15,000. This highlights recurring themes of unmet expectations and financial challenges among reality TV victors, underscoring the importance of prudent financial management despite sudden windfalls.