How much tax has to be paid on lottery or game show prize money?

income from winning of lottery is taxable under
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Like all other taxable income, the IRS requires you to report prizes and winnings on your tax return, too That means you might have to pay

Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no

income tax on lottery winnings in india winnings from lottery; Activity of owning and maintaining race horses; Income taxable at special rates under section 115BBDA or section 115BBE;

income tax slot When a lottery prize is claimed by a group, family unit, club or other organization, the multiple winners will be required to file an Internal Revenue