Can Powerball and Mega Millions winnings be inherited?

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Winning, receiving a share of a win or being gifted money has no tax implications on the initial amount and does not need to be reported to us

Lottery winners typically have a specific length of time to claim their winnings, although the deadlines vary by state For example, under title 8, section 382 Lottery winners can claim their winnings in one lump sum payment or annual payments over time Lottery winnings are treated as regular

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