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Is winnings from a lottery considered taxable under the income tax laws? Under Section 194B, any person winning the lottery, any game, or a
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The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes
lottery calculator florida The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes
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