How Taxes on Lottery Winnings Work

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Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

Gambling and lottery winnings and losses · You don't report your gambling income net of expenses, though · Instead, you must report your gambling Disclosure of your personal information is also required to administer federal and New York State income tax laws for prizes over $5,000, including, without

朝田日葵a片 Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax