Income Tax on Awards & Prizes

do you pay tax if you win the lottery
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An individual can give away up to $17,000 to someone without triggering gift taxes But if you win a $1,000,000,000 lottery? And then you give

How much will the lottery winner pay in taxes? The IRS views lottery winnings as ordinary income The top tax bracket for the highest earners Legally classed as gambling, any profits you make from buying a lottery a ticket are exempt from tax, so the full amount you win is the amount paid to

kerala lottery result 13_12_23 Win $500,000 or more for a single person Although you don't have to pay taxes on your lottery winnings, there are a number of things to keep in mind once the money has been sent to you