how much is lottery tax
Tallying Up the Taxes on Lottery Winnings - TurboTax
how much is lottery tax
how much is lottery tax
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how much is lottery tax What do federal taxes look like on a lump sum payment? The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted Most prize winners pay a fixed federal income tax rate of 24% on their lottery winnings over $5,000 Federal prize withholdings are calculated on the amount of How to Calculate the Deduction of TDS in Section 194B For IRS purposes, winnings from lotteries and game shows are counted separately from your other income
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