Lottery Calculator - The TurboTax Blog

lottery winnings after taxes calculator
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The lottery calculator below will help you estimate the amount of tax that may be withheld on lump-sum lottery winnings Enter the amount won

After calculating your net winnings, the first thing the IRS will do is take 25 percent of your prize money for taxes This 25 percent is The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes

recensione slot conan If you win more than $600 on the state lottery or a casino, the operator in question should automatically withhold 24% of your prize to cover After calculating your net winnings, the first thing the IRS will do is take 25 percent of your prize money for taxes This 25 percent is