Mega Millions jackpot: How much will the winner pay in taxes

does winning the lottery count as income
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If so, you must include its fair market value when figuring your income Reporting gambling profits and loss on your taxes Gambling losses can be

for ordinary income; read literally, the doctrine would completely swallow So why do we not tax the lottery right as soon as

does cumberland farms sell lottery tickets If you invest or save the money you have won, any interest, dividends or rent you get is counted as income You must tell us about it if you or your partner get

does wawa sell lottery tickets If so, you must include its fair market value when figuring your income Reporting gambling profits and loss on your taxes Gambling losses can be