Won a lottery or prize money in India? Here's what you need to know

Gambling and Lottery Winnings taxes for lottery winnings Under Act 84 of 2016, the Pennsylvania personal income tax of percent now applies to Pennsylvania Lottery cash prizes paid after January 1, 2016 taxes on million dollar lottery Your winnings are considered taxable and are added to your ordinary income when taxes are calculated If your earnings are big enough, they can

taxes on $5 This form reports the amount of your Lottery winnings and must be filed with your federal income tax return You should also keep a copy for your records