Here's what the $1 billion Powerball winner could owe in taxes

do you have to pay taxes on lottery winnings every year   Dan dolphins blessing slot

Lottery prizes get taxed under the same rules as regular income tax Whatever prize money you receive during the year is added to your taxable

When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal If I take the 30-year payout, I will get the full $1 billion of last week's Mega Millions pot paid to me over 30 years If I take the lump sum, I

powerball arizona lottery If so, you must include its fair market value when figuring your income Reporting gambling profits and loss on your taxes Gambling losses can be When you win the lottery, your winnings are considered ordinary taxable income Your prize money is taxed at the same rate as your wages and