Income Tax on winnings from Lottery, Game Shows, Puzzle

Income Tax on winnings from Lottery, Game Shows, Puzzle tax for lottery
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tax lottery calculator While you don't have to report lottery winnings of $600 or less, if you win more than $5,000, the government will hit you with a 24 percent federal withholding

taxes on slot machine winnings Section 194 B requires that income tax be withheld from a lottery, crossword, and other comparable game winnings before they are paid out This Income Tax at the rate of 20 percent shall be applicable on all lottery winnings or prizes equal to or more than ,000 per lottery ticket