Tallying Up the Taxes on Lottery Winnings - TurboTax

website taxes on lottery winnings calculator The lottery annuity calculator helps you estimate the yearly annuity payouts and any applied taxes for a given lottery jackpot taxes taken out of lottery winnings Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30%

taxes on lottery winnings calculator While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding  Include gamblinglottery winnings on the line for Alimony and other taxable income on the MI-1040CR, MI-1040CR-2, or MI-1040CR-7 Follow us   Meanwhile, other states have tax rates for lottery winnings that generally range from about 3% to almost 11% But in any case, once applicable taxes are taken

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