If Lottery Winnings are Taxable Income,

Published:

then we should file for Unemployment when we don't win.

Entry #3,267

Comments

Avatar Drenick1 -
#1
I think if your main source of income is from gambling (casinos,lotteries, horse tracks, etc) then you can claim all your losses. Unfortunately, the losses are capped based on your earnings but they do carry over.
These folks along with those who are self-employed must also pay social security/unemployment taxes even though they can never file for unemployment...this hypocrisy has been around for decades.

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