Don't bet on fooling IRS with bought losing lottery tickets

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You may complete a W-9 tax document at the Lottery Claim By Mail Upon receipt of your claim, your ticket must be validated by the Lottery Commission

Lottery winnings and costs in the are treated exactly the same as any other gambling winnings and costs You can deduct the costs of a lottery ticket but If you itemize, you can claim all your tax year's losing bets against your gambling income If you have enough losing bets, you can claim as

fc2-ppv-3174072 You do not declare winnings or loses from gambling unless you are a professional gambler Even if you were, I would still get a private ruling from the ATO  And, gambling losses can only be deducted if you itemize deductions on your tax return That means if you