Lottery Winnings: How much tax? How much can I give to family?

Lottery Winnings: How much tax? How much can I give to family? if u win the lottery how much is taxed If you win more than $5,000, you have to pay a 24 percent federal withholding tax However, depending on your annual earnings and tax deductions, you may get if you win the lottery where do you put the money pay federal taxes on your win • If Please remember to notify the Lottery's Tax Unit or Prize Payments Annuity Desk if you have changed your address

if you win the lottery where do you put the money So, if you're a single filer earning $50,000, your tax bracket will be 22% If you were to win a lottery prize of $200,000, your total

if i win the lottery what should i do You don't have to win the big jackpot to owe lottery taxes Your winnings are considered taxable and are added to your ordinary income when As previously mentioned, you have to pay federal income tax on lottery winnings Right off the bat, lottery winnings over $5,000 are subject to