do you get taxed on the lottery
What would the $ billion Powerball jackpot's tax bill be in your
do you get taxed on the lottery
do you get taxed on the lottery
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do you get taxed on the lottery So you will have to pay tax on your winnings irrespective of your income Which sections of the IT Act, 1961 are relevant for lottery tax in 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 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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