Tallying Up the Taxes on Lottery Winnings - TurboTax

The Census Bureau does not count the following receipts as income: capital gains people (Includes: prizes and awards; gambling, lottery or raffle winnings

Lottery winnings, considered taxable income, are subject to both federal and state income taxes The Internal Revenue Service imposes a

do quick picks ever win the lottery NOTE: We do not subtract gambling losses from gambling winnings in determining an individual's countable income counted as unearned income

do lottery numbers have to be in order For IRS purposes, winnings from lotteries and game shows are counted separately from your other income Such winnings fall under the category of Income from