Powerball and taxes: What you have to pay if you win the $935 million

do you have to claim lottery winnings on your taxes
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You must present your game ticket in order to receive your winnings Why should I sign my ticket? Like currency or dollar bills, Lottery tickets are 'bearer

Winnings are taxed 24% upfront, although the total tax bill will almost certainly be 37% when you actually file, since you'll likely be in the Tax on winning the lottery, puzzle, card games, betting, & horse races is % The winner can't claim deductions or expenses on such

dc-4 lottery Keep Your Money Safe The lottery will never ask you for money to process your winning ticket or to pay any fees upfront Federal and state taxes are paid A Lottery prizes subject to taxation Any lottery prize of $600 or more shall be subject to Virginia income tax To the extent included in federal adjusted