Tallying Up the Taxes on Lottery Winnings - TurboTax

Your winnings are considered taxable and are added to your ordinary income when taxes are calculated If your earnings are big enough, they can

So, let's say you decide to take the cash option when you win the Mega Millions jackpot If the jackpot remains at $ billion for Friday's

1_00 wala lottery Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

15_9_23 lottery result Taxes take a big bite out of your winnings According to the USA Mega analysis, the annuity would pay out $ million after federal income