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Georgia Lottery mistake gives players extra chance to win

Topic closed. 24 replies. Last post 12 years ago by KyMystikal.

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Maverick's avatar - yinyang
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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."
    Maverick's avatar - yinyang
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    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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      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).

        KyMystikal's avatar - 1457224010054
        Florence, Alabama
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        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!!!!!!

          Maverick's avatar - yinyang
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          Posted: February 27, 2005, 6:07 pm - IP Logged

          Scratch games count as losing tickets also right?

            psykomo's avatar - animal shark.jpg

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            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

              Todd's avatar - Cylon 2.gif
              Chief Bottle Washer
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              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!

               

              Check the State Lottery Report Card
              What grade did your lottery earn?

               

              Sign the Petition for True Lottery Drawings
              Help eliminate computerized drawings!

                Maverick's avatar - yinyang
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                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!


                  Maverick's avatar - yinyang
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                  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.

                    KyMystikal's avatar - 1457224010054
                    Florence, Alabama
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                    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!!!!!!