income from lottery
Taxes on Lottery & Gambling Winnings: What You Need to Know
income from lottery
income from lottery
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income from lottery Unlike salary or professional income where people are allowed to take deductions or allowance, winnings from contests are fully taxable This is Lottery winnings are treated as ordinary income by both the Internal Revenue Service and most states At the state level, that excludes those that don't have 8, Lottery prize winners of $600 or more are subject to a review by the Minnesota Department of Revenue for money owed to the state Debts are subtracted from
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