Are lottery winnings taxed based on the ticket date or the redemption
Are lottery winnings taxed based on the ticket date or the redemption
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Lottery winnings are considered taxable income for both federal and state taxes Federal tax rates vary based on your tax bracket, with rates up to 37% Winning
Lottery winnings are considered ordinary taxable income by the IRS Even if an installment winner sells the future income stream to another If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding
nr 357 lottery result today Lottery winnings are considered taxable income Besides the upfront withholding, your total federal tax rate could be higher—up to 37% If you Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no
