Tallying Up the Taxes on Lottery Winnings - TurboTax

why are lottery winnings taxed
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Your local citytown may also require your lottery winnings to be taxed as income and this can result in another line of deduction from your

US lottery taxes differ from other countries because winnings are considered taxable income for both federal and possibly state taxes The federal government 2 Federal Tax Withholding: The lottery is required to withhold 24% of your winnings for federal income tax purposes if you win more than $5,000

cara masuk akun demo slot Winnings from Underground Lotteries Are Still Taxed · Tax must to be paid on lottery winnings Actually, the chances of winning much money are so low that it That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and