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- united states - Are lottery winnings taxed based on the ticket date or . . .
Suppose I purchase a lottery ticket today (Dec 14, 2015) and win $25K If I wait a few weeks and redeem the ticket after Jan 1, are the taxes due based on income in this year (2015) or next year (2
- united states - Donating winning lottery ticket to 501 (c)3 Private . . .
Donating winning lottery ticket to 501 (c)3 Private Foundation: cost-basis deduction + full tax free redemption for foundation? Ask Question Asked 6 years, 1 month ago Modified 5 years, 11 months ago
- Won the lottery - how do I keep the money?
If you suddenly gained a large sum of money (several million $ € whatever) by winning the lottery, some inheritance or anything else, how could one preserve the money so you would stay rich as long as possible? The reason I'm asking is some hearsay that lottery winners usually lose all their money within 1-2 years
- Can pretax lottery winnings be donated to charity?
Can pretax lottery winnings be donated to charity in the US simultaneously creating a deduction of the taxable lottery winnings and putting pretax proceeds to a productive cause?
- How does gambling (like buying a lottery ticket) differ from investing?
Lottery tickets have an extremely-high likelihood of paying nothing, but in the cases where they do pay out, the returns are also extremely-high How does this differ from actual investing?
- How does a big lottery winner cash his huge check risk-free?
8 You've just won $20 million in the lottery Until you figure out what do do with the cash, you want to move it to the safest place you know: US Treasury account (s) But the lottery (per the California winners' handbook) won't do anything more than hand you a paper check
- Why does lottery write in trust on winners cheque?
The article states that he's accepting the money on behalf of a group that purchased the tickets together Using a Trust or LLC can let the members remain anonymous if the lottery allows it In some cases it may reduce taxes before the money is distributed - though this is a Canadian lottery so I wouldn't expect these winnings to be taxed
- Winning the lottery and moving to save on taxes
The tax on lottery winnings is based on the state where the lottery was held, because for legal purposes that's where the winnings are considered to have been earned for taxation purposes
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