Tallying Up the Taxes on Lottery Winnings - TurboTax

how much is federal tax on lottery winnings
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That's because when anyone wins the lottery, the IRS withholds 24% of the winnings off the top With a large jackpot, if the winner opted for the lump sum cash

New Jersey is another state that taxes lottery winnings With a tax rate of 8%, lottery winners in the state must factor in this tax obligation when calculating

how much do poker dealers make in tips Lottery winnings are considered taxable income Besides the upfront withholding, your total federal tax rate could be higher—up to 37% If you

how to play irish lottery That's because when anyone wins the lottery, the IRS withholds 24% of the winnings off the top With a large jackpot, if the winner opted for the lump sum cash