Reality shows, lottery winnings exempted from withholding tax in

If you sell or otherwise dispose of an asset that was a prize from a lottery, you must declare any capital gains you make in your tax return You must declare

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

taxes on $5 Lottery prize proceeds of more than $5,000 are subject to income tax withholding in accordance with § 48-7-101 Withholding From the Proceeds Paid

taxes lottery winnings If friends or family members contributed to your lottery ticket purchases, you can establish a partnership arrangement as the lottery winners