Tax on Winning Game Shows and Lotteries

Personal tax tip #59 Gambling Winnings and Your Maryland Tax how much federal tax on lottery winnings Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30% how can you win the lottery winnings as income on their tax return Gambling income includes, but is not limited to, winnings from lotteries, raffles, horse and dog races and casinos

how much is lottery tax Immediately, 24% of the cash value is withheld for federal taxes It doesn't stop there — winning this jackpot would put the winner in the