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How Are Lottery Winnings Taxed? The IRS will charge you federal tax on the net amount of your lottery winnings The net amount is the total of Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or

free coins world series of poker Powerball ticket—and hit a $ million after-tax jackpot Rosenau Does Turning Off Your AC When You're Not Home Actually Save Answer: Lottery payments are subject to tax as ordinary income While there is little you can do to avoid this income tax, there are steps you can take to