Tallying Up the Taxes on Lottery Winnings - TurboTax

tax calculator for lottery winnings
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tax calculator for lottery winnings Some states have no income tax or don't tax lottery winnings, but others have top-income state tax brackets exceeding 10% Powerball isn't  Federal Taxes on Lottery Winnings ; No deductions · Winnings must be reported on federal income tax form · 24-37%, depending on prize amount  Yes, it is possible that what you win in the lottery will influence your tax bracket The top federal tax rate might increase from 22% to more

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