Tallying Up the Taxes on Lottery Winnings - TurboTax

Income tax is withheld at a flat 24% rate from certain kinds of gambling winnings are: More than $5,000 from sweepstakes, wagering pools,

Legally classed as gambling, any profits you make from buying a lottery a ticket are exempt from tax, so the full amount you win is the amount paid to

does lottery money get taxed These winnings must be included as taxable income Pennsylvania does not tax nonresident individuals, estates or trusts on gambling and lottery winnings by

does 888 poker allow huds Lottery winnings are considered taxable income for both federal and state taxes Federal tax rates vary based on your tax bracket, with rates up to 37% Winning