Olympic medalists face steep taxation from the IRS

Team USA's 554 members have headed off to the 2016 Rio Olympics to obtain one thing: a gold medal.

However, going for the gold may come with a hefty price-tag come tax season.

For winning a gold, silver or bronze medal, athletes are given a monetary reward which is $25,000, $15,000, or $10,000, respectively. With that large prize comes a downside. The IRS considers these rewards regular income, which makes them subject to taxation.

SEE MORE: Everything you need to know about the Summer Olympics

So, athletes could end up paying as much as $9,900 in tax for a gold medal, $5,940 for a silver medal, or $3,960 for a bronze.

See photos of the top 5 gymnasts of the 2016 U.S. Olympic team:

To be fair, the taxed amount per medal does vary widely based on the athlete's tax circumstances.

Still, it could cost these athletes as much as 36 percent of their earnings!

Then again, can you really put a price on the taste of victory?

Check out the 'Uninhabitable' Olympic Village in Rio: