Here Are the 10 Biggest Lottery Jackpots Ever

taxes on $2 million dollars lottery winnings
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As soon as you accept your payout, a large chunk of it is withheld for taxes Though some states do not have a state lottery tax withholding

You're required to report all of your gambling winnings as income on your tax return, even if you end up losing money overall · You may receive

taxes lottery Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out of

taxes on lottery winnings calculator canada Lottery winnings are considered gambling gains 18 Section 165 provides that osses from wagering transactions shall be allowed only to