How Taxes on Lottery Winnings Work

So when the winner next files their taxes, they'll likely have to give the IRS another 13% of that prize In most states, the tax is taken

How Taxes on Lottery Winnings Work Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no

So when the winner next files their taxes, they'll likely have to give the IRS another 13% of that prize In most states, the tax is taken

federal government grant real facebook lottery winners list Depending on your other income and the amount of your winnings, your federal tax rate may be as high as 37% You may also be subject to state

Shareholders, partners, or members in pass-through entities receiving income from gambling or lottery activities are subject to personal income tax on their

federal lottery tax rate Report your full amount of gambling winnings on Individual Income Tax Return 4 Report your losses on Itemized Deductions,

Depending on your other income and the amount of your winnings, your federal tax rate may be as high as 37% You may also be subject to state