Taxability of winnings from Online Games

winning from lottery is taxable under which head of income   Dan winning slot online

Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no

Reportable State lottery winnings means State lottery winnings that the State agency conducting the lottery is required under the Internal Revenue Code or Income from Other Sources is one of the five heads of income Any income that is not specifically taxable under any other head of income

前田av You don't have to win the big jackpot to owe lottery taxes Your winnings are considered taxable and are added to your ordinary income when Others don't have a general income tax, but you'll still owe federal taxes A few states have specific rules on taxing lottery winnings: California: Does not