Archive for the ‘United States’ Category

Hitting the lotto, how can they tax so much?

Saturday, January 30th, 2010

VA brotha asked: That 23 year old in S. Dakota that hit the lotto for 234 million dollars and choose the lump sum and got 88.5 million. My question is, how do you get taxed 146 million dollars of your 234 million. Your paying almost twice as much in taxes ...

California Fantasy 5 Lotto and federal withheld tax?

Tuesday, May 5th, 2009

Mark C asked: I've won about 105k of california fantasy 5 lotto and the IRS witheld 25% or about 26k upfront. Does anyone know at the end of the year I will get some of that money back ? How should I file for my tax return? Any answer will ...

can losing lotto tickets be used to offset U.S. federal taxes on your lotto winnings?

Tuesday, April 14th, 2009

Chiz asked: can your non-winning lotto tickets be used to offset your U.S. federal income taxes on your winnings?Allison

should a visitor to this country be allowed to play lotto and what if they win?

Saturday, January 24th, 2009

prettycoolchick38 asked: Should they be allowed to keep the money and if so do they owe taxes on their winnings? Or are their winnings subject to their countries taxing system?Pearl

How much taxes will be taken out of $888 dollar lotto ticket in NY state?

Saturday, January 17th, 2009

Chef Billiardini asked: Ok, I just won $888 dollars on the New York lotto "Straight Eights" scratchoff game. I am wondering about how much to expect be taken out in taxes. Also, I am wondering if I'm better off giving them my social security # and claiming the taxes on ...

Do i have to pay federal income tax on my lotto winnings?

Monday, December 8th, 2008

daJoker asked: i won one thousand dollars on a pennsylvania scratch off ticket. they sent me a form w-2G, but there wasn't any tax deducted from my winnings. thanks.Larry

What should I tell the cashier when I buy my next lotto ticket, cash or annuity?

Tuesday, November 18th, 2008

lightning_thunderwolf asked: Would it be best to take a lump sum payment or take it over a long term for a lotto player that is in his 30s?Carrie

How much taxes I will have to pay for a $1 million dollar lotto prize?

Tuesday, October 14th, 2008

. asked: Will it be half of the money?Gerald

How do I claim a lotto winning without losing all of my ssi and medical insurance? Will I lose any of them ?

Sunday, October 12th, 2008

Emily C asked: I won on the lottery and claimed it was wiondering what i do know cann't afford to lose medical insurandeEugene