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Another man claims to have lost $254M Powerball ticket

Topic closed. 64 replies. Last post 5 years ago by seanp.

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ChaosX's avatar - dnf
Morris County, NJ
United States
Member #114357
July 29, 2011
656 Posts
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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

    Marilyn222's avatar - thumb 350-286546.jpg
    Denver
    United States
    Member #117684
    October 12, 2011
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    Posted: November 17, 2011, 12:11 pm - IP Logged

    No ticket no money...a lot of people will claim that lost ticket hehehe...Bash

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      Orlando, FL
      United States
      Member #115785
      August 28, 2011
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      Posted: November 17, 2011, 12:21 pm - IP Logged

      another lost ticket...give me a break

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        Pittsburgh, PA
        United States
        Member #113043
        July 1, 2011
        22 Posts
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        Posted: November 17, 2011, 2:04 pm - IP Logged

        NO! I have the winning ticket!  Now where did I put it?

          Avatar
          NY
          United States
          Member #23835
          October 16, 2005
          3474 Posts
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          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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            New Member
            Charlotte, Nc
            United States
            Member #118399
            October 30, 2011
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            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.

              dpoly1's avatar - driver
              PA
              United States
              Member #66141
              October 16, 2008
              1672 Posts
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              Posted: November 17, 2011, 3:34 pm - IP Logged

              Keeping a lottery ticket in your wallet is not rocket science ............... or is it!?!?

              Chair

                freeobama's avatar - Lottery-057.jpg
                Sunny part of town
                United States
                Member #102877
                December 27, 2010
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                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. Bat

                  NoShame's avatar - Lottery-030.jpg
                  Indiana
                  United States
                  Member #104853
                  January 21, 2011
                  159 Posts
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                  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.

                    hearsetrax's avatar - 0118

                    United States
                    Member #52345
                    May 21, 2007
                    2657 Posts
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                    Posted: November 17, 2011, 5:05 pm - IP Logged

                    Type personally I hope it never gets claimed  and someone did lose it !!

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                      Orlando, FL
                      United States
                      Member #115785
                      August 28, 2011
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                      Posted: November 17, 2011, 5:18 pm - IP Logged

                      Prizes go unclaimed here in Florida all the time, how it happens is beyond meCrazy

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                        Chattanooga, TN
                        United States
                        Member #74194
                        May 5, 2009
                        74 Posts
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                        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!

                          maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
                          Massachusetts
                          United States
                          Member #37433
                          April 14, 2006
                          2747 Posts
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                          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!

                          That money's gone fo ever

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                            Keokuk,Iowa
                            United States
                            Member #116504
                            September 12, 2011
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                            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.

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                              Las Vegas
                              United States
                              Member #119212
                              November 17, 2011
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                              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.