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Eastern Time (GMT-5:00) | Another man claims to have lost $254M Powerball ticketMorris County, NJ United States Member #114376 July 29, 2011 656 Posts Offline | | Posted: November 17, 2011, 11:16 am - IP Logged | |
I umm had the winning ticket and I lost it too... "If you really want something in this life you have to work for it. Now quiet, they're about to announce the lottery numbers." - Homer J. Simpson | | |
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Denver United States Member #117699 October 12, 2011 14 Posts Offline | | Posted: November 17, 2011, 12:11 pm - IP Logged | |
No ticket no money...a lot of people will claim that lost ticket hehehe... | | |
Orlando, FL United States Member #115805 August 28, 2011 259 Posts Offline | | Posted: November 17, 2011, 12:21 pm - IP Logged | |
another lost ticket...give me a break | | |
Pittsburgh, PA United States Member #113065 July 1, 2011 17 Posts Offline | | Posted: November 17, 2011, 2:04 pm - IP Logged | |
NO! I have the winning ticket! Now where did I put it? | | |
NY United States Member #24178 October 16, 2005 2535 Posts Offline | | Posted: November 17, 2011, 2:20 pm - IP Logged | |
The payout would still be taxable in 2011, not 2012. The IRS rules are that income is taxable in the first year when it could be collected, not when it is actually received. If you hit the lottery in late December, they would not be able to pay you until January and it would not be taxable until then. A good attorney would advise a client not to reveal themselves until the lottery could actually pay them the next day. And the winner should make plans to leave immediately to an undisclosed location for a while. That's generally true, but most PB states give winners 60 days to make the decision on whether to take cash or annuity. I don't think it's been tested IRL, but there seems to be a lot of speculation that having 60 days to make that decision means you don't have constructive receipt until the decision is made. In that case any such win after 11/1 wouldn't be taxable until the following year if the winner waits to claim it or waits to make the decision. | | |
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Charlotte, Nc United States Member #118414 October 30, 2011 5 Posts Offline | | Posted: November 17, 2011, 2:59 pm - IP Logged | |
I swear if someone really lost that ticket they have to be the dumbest person ever. Waste of a winning ticket. | | |
PA United States Member #66644 October 16, 2008 1280 Posts Offline | | Posted: November 17, 2011, 3:34 pm - IP Logged | |
Keeping a lottery ticket in your wallet is not rocket science ............... or is it!?!? 
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Sunny part of town United States Member #102906 December 27, 2010 224 Posts Offline | | Posted: November 17, 2011, 4:25 pm - IP Logged | |
I noticed nobody claimed the $78 million Mega Millions jackpot sold in California on november 1st.  | | |
Indiana United States Member #104883 January 21, 2011 157 Posts Offline | | Posted: November 17, 2011, 4:54 pm - IP Logged | |
Actually a wallet would be a terrible place to keep a ticket that big. What if your wallet gets stolen or the ticket falls out when you open it for another need? I keep my tickets in an area that I frequently access but is not full of junk. Usually the nightstand drawer or the top of my computer desk. That way it's still within availability I don't have to worry about throwing it away or digging through because no on ever comes into my room but me. | | |
United States Member #52818 May 21, 2007 1373 Posts Offline | | Posted: November 17, 2011, 5:05 pm - IP Logged | |
 personally I hope it never gets claimed and someone did lose it !!
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Orlando, FL United States Member #115805 August 28, 2011 259 Posts Offline | | Posted: November 17, 2011, 5:18 pm - IP Logged | |
Prizes go unclaimed here in Florida all the time, how it happens is beyond me | | |
Chattanooga, TN United States Member #74705 May 5, 2009 46 Posts Offline | | Posted: November 17, 2011, 5:38 pm - IP Logged | |
It takes about 3 weeks of careful planning and consideration to form a blind trust and personal trust plus figure out where to place the money to where you can gain the most money and pay less taxes after all the are already getting a large chunk of the change! all these idiots are looking to do is drum up business! | | |
Massachusetts United States Member #37842 April 14, 2006 960 Posts Offline | | Posted: November 17, 2011, 5:40 pm - IP Logged | |
I'll bet CT government is getting pretty excited that the owner might have lost the ticket. Even though CT has the highest per capita income in USA, the Government of CT is lagging behind many states in revenue collection. Oh I hope the real owner is just being smart and is making lifelong plans for the money then come out briefly to claim it then disappear like Keyse Soze. Forever! | | |
Keokuk,Iowa United States Member #116524 September 12, 2011 134 Posts Offline | | Posted: November 17, 2011, 5:56 pm - IP Logged | |
Actually a wallet would be a terrible place to keep a ticket that big. What if your wallet gets stolen or the ticket falls out when you open it for another need? I keep my tickets in an area that I frequently access but is not full of junk. Usually the nightstand drawer or the top of my computer desk. That way it's still within availability I don't have to worry about throwing it away or digging through because no on ever comes into my room but me. Actually a wallet is a safer place to keep a ticket than either place that you mentioned.What if someone breaks into your house when you aren't home?What if your house would catch on fire?i'd rather have the ticket on my hip than laying out where anyone could snatch it.As long as its signed,it really doesn't matter where you keep it,though. | | |
Las Vegas United States Member #119229 November 17, 2011 16 Posts Offline | | Posted: November 17, 2011, 5:58 pm - IP Logged | |
That's generally true, but most PB states give winners 60 days to make the decision on whether to take cash or annuity. I don't think it's been tested IRL, but there seems to be a lot of speculation that having 60 days to make that decision means you don't have constructive receipt until the decision is made. In that case any such win after 11/1 wouldn't be taxable until the following year if the winner waits to claim it or waits to make the decision. That is certainly an interesting position to take. I suspect the IRS would argue that because the decision was solely in the hands of the winner, constructive receipt has occurred if the winner chooses the cash option a few days after January 1. I don't have a good feel for how a judge might decide the issue for a single winner. A group that won might have a more persuasive agrument that constuctive receipt had not occurred because it took that long for the group to reach agreement on whether to take cash or the annuity. In a group setting, one winner does not control the issue. As I say, it is interesting. | | |
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