What Taxes Are Due on Gambling Winnings?

what is the federal tax rate on lottery winnings
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So when the winner next files their taxes, they'll likely have to give the IRS another 13% of that prize RELATED: How one lottery-winning

Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The How Are Lottery Winnings Taxed? The IRS will charge you federal tax on the net amount of your lottery winnings The net amount is the total of

lottery sambad 02 12 23 Lottery winnings, considered taxable income, are subject to both federal and state income taxes The Internal Revenue Service imposes a If a sole winner of Saturday's prize is taxed up to 37% and lives in a state where the only taxes required are federal, they will take home an