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.
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.
If you can prove your losses you can subtract them from your winnings.
Or just claim it as income.
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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