Tax Planning for Lottery Winners
Tax Planning for Lottery Winners
Gambling winnings must be reported as taxable income Gambling lottery ticket purchases You would be able to deduct $800 of
The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that The lottery winnings are taxable income in the state where you bought the ticket The taxes you pay to that state on the winnings are eligible
what were the lottery numbers for wednesday All lottery winnings are subject to Federal taxation (automatically reported to Winning ticket for $ million Powerball lottery sold in Florida Question: My husband and I recently won the grand prize from my State's lottery Can you provide some guidance on how we will be taxed on our lotto winnings
