How are Lottery Winnings Taxed?
How are Lottery Winnings Taxed?
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Right off the bat, lottery winnings over $5,000 are subject to tax withholding of 24% Additionally, depending on how much you are taking home
Federal taxes are the same for everyone Winnings are taxed 24% upfront, although the total tax bill will almost certainly be 37% when you The lottery prize payment is gambling winnings taxed as ordinary income A: Lottery payments made to your estate or to your heirs are taxable if they were
badger 5 lottery Federal taxes are the same for everyone Winnings are taxed 24% upfront, although the total tax bill will almost certainly be 37% when you The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum or not That's because the 37
