What Is the Tax Rate for Lottery Winnings? - Money

is lottery winnings considered income
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Lottery prizes get taxed under the same rules as regular income tax Whatever prize money you receive during the year is added to your taxable

These shows and lotteries offer vast chunks of prizes in cash and in the form of cars, houses, etc This income is taxable, and TDS is deducted before giving

is lottery legal in india How much exactly depends on your tax bracket, which is based on your winnings and other sources of income, so the IRS withholds only 25% You'll

is party poker down Gambling income includes, but is not limited to, winnings from lotteries, “Miscellaneous Deductions,” or Publication 525, “Taxable and Nontaxable