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why are lottery winnings taxed
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Even if an installment winner sells the future income stream to another party, the sales proceeds are considered ordinary income — not capital

income tax treatment of lottery prizes This guidance applies specifically The lottery prize payment is gambling winnings taxed as ordinary income  The top tax bracket for the highest earners in this country — which is where winning the lottery would bump the winner — has a 37 percent tax

cosmic slot casino The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes How Taxes on Lottery Winnings Work · 10% on the first $9,700 you earn · 12% on the next $29,775 · 22% on the next $44,725 · 24% on the next