Tallying Up the Taxes on Lottery Winnings - TurboTax

tax on lottery
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How do lottery taxes work? ; 10% $0 to $11,600 10% of taxable income ; 12% $11,601 to $47,150 $1,160 plus 12% of the amount over $11,600 ; 22

Personal Income Tax Facts: Taxpayer Davis, a computer programmer, buys 15 lottery tickets each week choosing ticket numbers according to a system she has

taxes paid on lottery winnings Tax treatment of winnings Winnings received are not taxable as they are windfalls and not considered as an income You do not need to declare

taxes on lottery winnings Example: If you won $10,000 but lost $15,000 You may deduct $10,000 California lottery We do not tax California Lottery or Mega millions