Powerball Losers Make Lemonade By Selling Losing Lottery Tickets

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Taxation is imposed upon all income sources You may think that lottery winning would not be considered as an income source, but it is counted

Taxation is imposed upon all income sources You may think that lottery winning would not be considered as an income source, but it is counted Generally, you cannot deduct gambling losses that are more than your winnings Example: If you won $10,000 but lost $15,000 You may deduct

jocuri casino slot If you itemize your deductions on Schedule A , you can deduct gambling losses you had during the year, but only up to the amount of The payer will deduct 24% from your winnings on the spot if you win above a certain amount · You'll report your winnings and your tax payments when you file