I Won the Lottery! How Bad Are Taxes Going to Be?

what taxes do you pay on lottery winnings
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Here's the truth with gambling taxes: both cash and noncash gambling winnings are fully taxable What are cash winnings? Cash winnings include money you

Taxes: The IRS requires that you report ALL Lottery winnings The Lottery is required by law to withhold 24% for federal taxes and % for state income

what age can you play the lottery 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 must declare

what are the best numbers to pick for the lottery You are taxed on anything you win, whether it's cash, an item, a trip, or a service · Winnings are subject to federal and state income taxes · Most tangible