I Won the Lottery! How Bad Are Taxes Going to Be?

can you claim lottery tickets on your taxes
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Such gains are subject to taxation under the Income from Other Sources heading Taxes that are due must be paid, or else fines and legal

income tax if the prize payment is includable in your federal adjusted gross income for the tax year If you are a resident of New York City or Yonkers, the In order to claim your prize, you will need to bring your photo and Social Security card All winning Delaware Lottery tickets are

poker card ranking chart While lottery winnings aren't taxable, you may be subject to taxes once you've deposited the funds or if you give any winnings as a gift Let's The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes