Scottie Scheffler to lose almost half of Masters prize money as whopping tax bill revealed

Scottie Scheffler finished second at the Masters, but the world No. 1 is projected to lose a substantial amount of prize money to a combined US federal and Georgia state tax bill

Scottie Scheffler came up just short in his pursuit of a third Green Jacket, finishing a single stroke behind Rory McIlroy at the Masters Tournament, but still pocketed a substantial sum despite the runner-up spot. The world No. 1 began his opening round late on Thursday at the Masters and faced some of the most challenging conditions of the entire week, with the course becoming considerably firmer as the day wore on.

By Friday, the layout had been softened after significant watering overnight, making scoring easier. Yet despite the more forgiving conditions, Scheffler couldn’t capitalise and close the deficit.

Scheffler produced a superb weekend fightback with rounds of 65 and 68 to reach 11-under par, but a patchy opening left him with too much to do, even though he became the first golfer in 84 years to card a bogey-free final round. Despite narrowing the gap late on, McIlroy clung on with a one-under 71 to claim the title.

The financial rewards at the Masters were substantial, with a record $22.5 million (£16.64m) prize fund in 2026, up from $21 million (£15.53m) the year before. McIlroy banked $4.5 million (£3.33m), while Scheffler collected $2.43 million (£1.8m) for his second-place finish.

A quartet of players, including Tyrrell Hatton, Russell Henley, Justin Rose, and Cameron Young, each pocketed $1.08million (£800,000) after sharing third place.

What Scheffler, alongside every participant at Augusta, cannot escape is the tax obligation that accompanies prize money earned on American territory.

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Research by AskGamblers has shown that Scheffler stands to forfeit over $1 million (£740,000) of his earnings owing to the rules.

Every golfer taking part at the Masters faces a combined tax rate of 41.99 percent in 2026, comprising the US federal tax withholding rate of 37 percent and Georgia’s 2026 state tax rate of 4.99 percent. When applied to Scheffler’s $2.43million (£1.8m) haul that delivers a tax bill of $1,020,357. (£754,478)

The total tax liability for the entire 2026 Masters field is estimated at $9,447,750 (£6.98m), an increase of $545,850 (£403,616) from the year before.

For comparison, the Masters now stands amongst the most valuable competitions in golf, although it remains behind The Players Championship, which tops the sport with a $25 million (£18.5m) prize fund.

Meanwhile, the PGA Championship boasted $19 million (£14m) last year, while The Open Championship stood at $17 million (£12.57m).

The U.S. Open reached $21.5 million (£15.9m) , but Augusta’s $22.5 million (£16.64m) prize pot in 2026 firmly establishes the Masters amongst golf’s most financially rewarding tournaments.

Scheffler’s display at Augusta, marked by weekend rounds of 65 and 68, suggested a return to his exceptional, championship-winning standards as he powered back into the hunt for the Green Jacket.

It represented a notable reversal of fortunes from his pre-Masters difficulties, when he dropped outside the top 10 in three successive starts after his extraordinary streak of 18 consecutive top-10 finishes came to a halt in February.

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