How are Lottery Winnings Taxed?

how much tax is taken from lottery winnings
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Right away, 24% of that cash value is withheld for federal taxes and goes to the IRS, TurboTax explains So if the Oregon Powerball winner does

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 The less popular annuity option would have you give up $ million in federal taxes, bringing your winnings down to an average of $

nd lottery winning numbers Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes, The less popular annuity option would have you give up $ million in federal taxes, bringing your winnings down to an average of $