How are Lottery Winnings Taxed?

Tallying Up the Taxes on Lottery Winnings - TurboTax tax for lottery winnings Have you ever wondered about people who win money on game shows like Kaun Banega Crorepati, Bigg Boss, Indian Idol, etc , paying tax or not? Do tax on lottery winnings uk winnings If you sell or otherwise dispose of an asset that was a prize from a lottery, you must declare any capital gains you make in your tax return You

tax in lottery winnings Gambling winnings, including winnings from the Minnesota State Lottery and other lotteries, are subject to federal and Minnesota income