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    Oneill474's Avatar
    Oneill474 Posts: 427, Reputation: 2
    Full Member

    May 12, 2010, 12:37 PM
    Florida lottery winnings
    I know if you winIRS they take takes some money out like
    Withholding. But how is it taxed. Is there a special tax for gambling winnings. Or can the winnings be incorporated with other income earned
    At the end of the year.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,505, Reputation: 4600
    Uber Member

    May 12, 2010, 12:39 PM

    If you can prove your losses you can subtract them from your winnings.

    Or just claim it as income.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7691

    May 12, 2010, 03:32 PM

    They will withhold estimated taxes out, based on your status.
    You can estimate from 25 to 30 percent withheld on larger lottery winnings.

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