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Eastern Time (GMT-5:00) | Home -> Forums -> Lottery News -> Georgia Lottery mistake gives players extra chance to win Georgia Lottery mistake gives players extra chance to winPrevious TopicNext TopicUSA United States Member #8399 October 29, 2004 1133 Posts Offline | | Posted: February 18, 2005, 10:03 pm - IP Logged | |
Quote: Originally posted by JimmySand9 on February 17, 2005
Quote: Originally posted by mrmst on February 17, 2005
I never tear up my tickets - save them for tax reasons. If you win big, you can deduct losses up to the amount of the win - the losing tickets serve as receiptl
Really? So if I win the losing tickets can be deducted from the amount withheld?
Yes, for prizes $600 or more. Gail Howard's Lottery Master Guide (page 10) says, "Losing tickets can be off-set against your wins dollar for dollar. The IRS allows these tickets to be used as proof of losses against your winnings. Get receipts for other gambling losses too. They can also be deducted against your lottery wins." | | |
USA United States Member #8399 October 29, 2004 1133 Posts Offline | | Posted: February 18, 2005, 10:06 pm - IP Logged | |
one of the 39 balls was left out?! Unbelieveable, but human we are. | | |
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United States Member #11259 February 3, 2005 4 Posts Offline | | Posted: February 27, 2005, 10:21 am - IP Logged | |
Quote: Originally posted by JimmySand9 on February 17, 2005
Really? So if I win the losing tickets can be deducted from the amount withheld?
No, but you can offset your winnings on taxes with your losing tickets. For example, I won $1000.00 on a scratch off game last year, but since I spend about $60.00 per week on tickets, I was able to write off $1000.00 in losses, and thus, not pay any taxes on the winnings. Incedentally, it looks like Ga. may have had that extra drawing this past Fri. night. There were two jackpots worth about $290k each (according to the website).
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Clarksville,Tennessee United States Member #8823 November 13, 2004 1858 Posts Offline | | Posted: February 27, 2005, 10:49 am - IP Logged | |
Quote: Originally posted by hedgy2631 on February 27, 2005
Quote: Originally posted by JimmySand9 on February 17, 2005
Really? So if I win the losing tickets can be deducted from the amount withheld?
No, but you can offset your winnings on taxes with your losing tickets. For example, I won $1000.00 on a scratch off game last year, but since I spend about $60.00 per week on tickets, I was able to write off $1000.00 in losses, and thus, not pay any taxes on the winnings
I once won $5,000 but was able to right off the win with losing tickets I saved. I also got losing tickets from this store I played at to help since I didn't have enough on my own.I love doubles and remember, it's just a game!!!!!! | | |
USA United States Member #8399 October 29, 2004 1133 Posts Offline | | Posted: February 27, 2005, 6:07 pm - IP Logged | |
Scratch games count as losing tickets also right? | | |
United States Member #4963 May 30, 2004 3230 Posts Offline | | Posted: February 27, 2005, 6:24 pm - IP Logged | |
THANKS..........................GEORGIA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
THE.... LOTTO COMMISSIONER...........should take this lottery...trueteeeee accountant.......buttttttttthole.........bean what kind OF (2+2=DUD).....AAH ..COUNTER..????????????????................................NOOOOOOOOO.........NOT
maby the AUDITOR.......OUT to DINNER????????????????....(WHERE were THEY?????????????????????????????????).....OH LETS goooooooo---------
out to the........................................................................................... RUTH CRISPY.............CREAMIIIIIIIIIIEEEEEEEE......YES, Lets go to RUTH.....WE need a break...................................TODAY$$$$$$$$$$$$$$$$$$$$$$$$$
STEAK HOUSE............................for WHATTTTTTTTTTTTTTTT???????????????
PSYKOMO
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Chief Bottle Washer New Jersey United States Member #1 May 31, 2000 19724 Posts Offline | | Posted: February 27, 2005, 7:01 pm - IP Logged | |
Quote: Originally posted by Maverick on February 27, 2005
Scratch games count as losing tickets also right?
Absolutely! | | |
USA United States Member #8399 October 29, 2004 1133 Posts Offline | | Posted: February 27, 2005, 7:03 pm - IP Logged | |
Quote: Originally posted by Todd on February 27, 2005
Quote: Originally posted by Maverick on February 27, 2005
Scratch games count as losing tickets also right?
Absolutely!
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USA United States Member #8399 October 29, 2004 1133 Posts Offline | | Posted: March 2, 2005, 6:40 am - IP Logged | |
www.nylottery.org just told me something interesting. They said, "The non-winning tickets must have been purchased in the same tax year as your win." Good to know (in NY at least) cos I thought even old tickets dating a few years back could be used also. DANG. | | |
Clarksville,Tennessee United States Member #8823 November 13, 2004 1858 Posts Offline | | Posted: March 2, 2005, 4:21 pm - IP Logged | |
Quote: Originally posted by Maverick on March 2, 2005
www.nylottery.org just told me something interesting. They said, "The non-winning tickets must have been purchased in the same tax year as your win." Good to know (in NY at least) cos I thought even old tickets dating a few years back could be used also. DANG.
I thought it was like that everywhere? I love doubles and remember, it's just a game!!!!!! | | |
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