WebJun 4, 2024 · Call your state lottery commission and ask them to send you a duplicate W-2G. If you can't get another copy, you probably know the amount that you won. Enter it in TurboTax as gambling winnings that were not reported on a W-2G. It looks the same on the tax return, whether or not you have a W-2G. WebDec 14, 2024 · Slot machine and bingo winnings of $1,200 or more ; Keno winnings of $1,500 or more; Tournament poker winnings of $5,000 or more ; Winnings of $600 or more from a sweepstakes, lottery or other gambling activity not listed above when you've won at least 300 times what you've wagered
Question about tax liability on lottery winnings
WebPERSONAL INCOME TAX GENERAL PROVISIONS 150-316-0505 Oregon Lottery Winnings and Losses (1) ... $400 and $750, respectively. During the current year, Angela won $800 in other gambling winnings. She spent $1,000 on Oregon lottery tickets and had $1,300 in other gambling losses. Angela determines her net Oregon adjustment to be a subtraction … WebYour state will tax the winnings too, unless you live in a state that does not impose a state-level income tax. The tax rate will be determined by your income on your federal income tax paperwork. So, for instance, if you … gplex.io
taxes - If someone lives in one state and purchases a winning lottery …
WebFor example, the state of Oregon has a state tax threshold of $1,500. If you win this amount or more, your prize will be subject to an 8% tax rate in addition to the 24% federal tax. ... It might seem like a daunting task, but paying taxes on your lottery winnings is actually a breeze! US prizes are subject to taxation at source. WebState Tax. The Oregon Lottery automatically withholds an 8% state tax on all prizes of $1,500 or more. This follows state law effective January 1, 2024. ... Did you know you … WebJul 30, 2024 · In fact, lottery winnings are taxed, with the IRS taking up to 37%. Curiously, though, only 24% is withheld and sent directly to the government. The winning cash prize of $747,200,000 after the 24 ... gplearn安装