Taxes on Lottery Winnings: How Much Will You Get

State lottery winnings are reportable to the IRS where the State agency conducting the lottery requires a winner to complete federal Form W-2G, Certain Gambling

Personal Income Tax Facts: Taxpayer Davis, a computer programmer, buys 15 lottery However, since federal law taxes the gain from gambling, Taxpayer Davis may

federal lottery tax calculator If you choose to donate, split, or assign your lottery winnings, in whole or in part, it is taxable to the recipient in the same way as for federal income tax

federal lottery taxes That's because lottery winnings are generally taxed as ordinary income at the federal and state levels In fact