Lottery And Taxes

Lottery And Taxes federal tax for lottery winnings
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federal tax on lottery winnings The governing lottery body withholds 24% of the prize automatically, leaving the balance to be paid by the winner, according to Lottery USA If

federal lottery tax calculator Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes, Gambling winnings are fully taxable and you must report the income on your tax return Gambling income includes but isn't limited to winnings from lotteries,