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POWERBALL CREATES WORLD'S FIRST BILLION-DOLLAR JACKPOT

Topic closed. 567 replies. Last post 11 months ago by AbsolutelyFun.

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sirbrad's avatar - Lottery-062.jpg
PA
United States
Member #22983
October 6, 2005
2226 Posts
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Posted: January 10, 2016, 9:48 pm - IP Logged

Come on 2nd prize.   1 million is all I need.

2nd Prize baby!  Yeah!

 

(what is my problem?  "2nd Prize" ?.  Get real. 2nd prize is only a million.
"yes, I know but . . . . . "
but nothing. when you go to get your tickets today, think big)

Do you REALLY want to miss the PB for a difference of about 1.5 Billion? Do you REALLY want to get that CLOSE on a historic jackpot for such a drastic difference in the pay out?  Do you REALLY want to be a hundred thousandaire instead of a billionaire? Ok...If you win I will take it all and send you a million tax free. LOL

    MzDuffleBaglady's avatar - Lottery-018.jpg

    United States
    Member #81314
    October 16, 2009
    18991 Posts
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    Posted: January 10, 2016, 9:50 pm - IP Logged

    I have my ticket for the $1.3 Billion Jackpot.

     

    Here we go!!!Party

    The Struggle is real!

      kyokushin187's avatar - evildead2
      cornwall,ct
      United States
      Member #102636
      December 23, 2010
      245 Posts
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      Posted: January 10, 2016, 9:53 pm - IP Logged

      Not sure if it will roll much. Just seems kid of odd that out of all the tickets sold and combos that were played it was not hit Saturday. Just sayin. Fishy!!!

      Kyokushin karate a.k.a.

      " The strongest Karate"

        Avatar

        United States
        Member #171275
        January 5, 2016
        105 Posts
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        Posted: January 10, 2016, 9:55 pm - IP Logged

        We'll tell the IRS that it was all done subliminally!

         

        The gift tax is such a hunk of crud.   The money has already been taxed.

        Huh? We got taxed more than once on the same money?  Say it isn't so!!!! Wink

          Original Bey's avatar - Lottery-022.jpg

          Bahamas
          Member #133462
          September 30, 2012
          5946 Posts
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          Posted: January 10, 2016, 9:59 pm - IP Logged

          No lejardin, you are not spinning it properly.  What you meant when you said the Powerball would not ever get to a billion was the actual cash value, and you still stand by that projection... until it happens, then you spin it again and state you were referring to the after tax value!  This should cover you for quite some time, while remaining correct in your statement.

          LOL love this spin

          "Everything works  ONCE!"

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            Arizona
            United States
            Member #165073
            March 24, 2015
            220 Posts
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            Posted: January 10, 2016, 10:00 pm - IP Logged

            You can give $14K to your offspring, your mom and pop, and to me!  Anyone you would like to.  13K was the old amount and changed in 2013, applicable through 2016.  AND your spouse, if applicable can also give the same amount to the same person you did, thus doubling the gift without the tax.  Remember though, these count toward your eventual estate tax exemption so keep track of them. 

             

            Comments are for entertainment purposes only.  Consult a tax professional for your own circumstances.

            Remember though, these count toward your eventual estate tax exemption so keep track of them. 

            As I understand it, gifts under 14K are truly exempt, with no limit. You can also give larger gifts tax-free, but only up to a lifetime limit which does count against your estate tax exemption. One thing you need to watch out for is that you can't receive anything of value in return, or it becomes a transaction rather than a gift. (For example, when Oprah gave cars to her audience, she got promotional value for her show, so they didn't count as gifts for tax purposes.)

            I am not an expert. Strangers on the internet are not a suitable source for tax advice.

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              Arizona
              United States
              Member #165073
              March 24, 2015
              220 Posts
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              Posted: January 10, 2016, 10:01 pm - IP Logged

              Not sure if it will roll much. Just seems kid of odd that out of all the tickets sold and combos that were played it was not hit Saturday. Just sayin. Fishy!!!

              There was about a 22% chance of it happening, given the number of tickets sold.

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                The Windy City
                United States
                Member #171690
                January 10, 2016
                62 Posts
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                Posted: January 10, 2016, 10:01 pm - IP Logged

                Huh? We got taxed more than once on the same money?  Say it isn't so!!!! Wink

                America.... love it or leave it.... well I'm not leaving, but I despise the gift and death tax.

                  Groppo's avatar - cat anm.gif

                  United States
                  Member #162631
                  January 7, 2015
                  503 Posts
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                  Posted: January 10, 2016, 10:02 pm - IP Logged

                  Huh? We got taxed more than once on the same money?  Say it isn't so!!!! Wink

                  But, if the money came from, say, a tax sheltered source, like a bank CD, and it is now distributed for any reason ?

                  I don't know many things, regarding tax requirements. I just know I want to do the right thing.

                  So, paying taxes, and avoiding the IRS radar that way is pretty high up on my priority list.

                  After reading many of the comments throughout this 25 or so page thread, which was 13 pages, before I left the house this morning, pretty much nailed the tax issue shut for my own peace of mind.

                    lejardin's avatar - Lottery-014.jpg

                    United States
                    Member #118609
                    November 4, 2011
                    935 Posts
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                    Posted: January 10, 2016, 10:06 pm - IP Logged

                    Hi Candy-Lane:

                    You were more astute than I was lol.

                    Was reading comments about "tweeter"s saying no wins and didnt want to believe those twits lol  Thumbs Down

                    Then read you were hanging at Todd's waiting for the official word.  So I was following your posts but it was taking forever to get to the word.  I finally gave up and went to bed never thinking the twits would be correct.  Only heard on the news this morning there was no winner, what a shock.  So I did what any other billion dollar dreamer would do, I went and got a few tickets just to make sure I was a contender hahahaha.  Yea call me an idiot but I am in once again, dreaming of what, when and where.

                    Good luck all dreamers!  Hurray!...  tbc.....  Todd, we need some more and new emoticons.

                      realtorjim's avatar - images q=tbn:ANd9GcT7U3t20NgScoPlxOqLT6TR0vQeJNBV3_tTswe1XeFDTsdw3NLZ

                      United States
                      Member #106923
                      February 27, 2011
                      478 Posts
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                      Posted: January 10, 2016, 10:11 pm - IP Logged

                      Not sure if it will roll much. Just seems kid of odd that out of all the tickets sold and combos that were played it was not hit Saturday. Just sayin. Fishy!!!

                      Not fishy at all... just astronomically, ridiculously, looooooooooooooooooooooooooooooooooooooong odds!  They did not sell enough tickets to cover these odds.  Hence, a chance there was not a winner... and that is how it played out. No winner.

                        I'm feeling a jackpot win coming my way!

                        sirbrad's avatar - Lottery-062.jpg
                        PA
                        United States
                        Member #22983
                        October 6, 2005
                        2226 Posts
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                        Posted: January 10, 2016, 10:12 pm - IP Logged

                        I am surprised that TLC is not running a "Lottery Changed My Life" marathon now, ratings would be through the roof!

                          Kyle7824's avatar - Lottery-042.jpg
                          Greenville, NC
                          United States
                          Member #157301
                          July 14, 2014
                          3390 Posts
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                          Posted: January 10, 2016, 10:13 pm - IP Logged

                          All those QP and no winner... Picking your own numbers is better

                            realtorjim's avatar - images q=tbn:ANd9GcT7U3t20NgScoPlxOqLT6TR0vQeJNBV3_tTswe1XeFDTsdw3NLZ

                            United States
                            Member #106923
                            February 27, 2011
                            478 Posts
                            Offline
                            Posted: January 10, 2016, 10:13 pm - IP Logged

                            Remember though, these count toward your eventual estate tax exemption so keep track of them. 

                            As I understand it, gifts under 14K are truly exempt, with no limit. You can also give larger gifts tax-free, but only up to a lifetime limit which does count against your estate tax exemption. One thing you need to watch out for is that you can't receive anything of value in return, or it becomes a transaction rather than a gift. (For example, when Oprah gave cars to her audience, she got promotional value for her show, so they didn't count as gifts for tax purposes.)

                            I am not an expert. Strangers on the internet are not a suitable source for tax advice.

                            I meant to include 'taxable' gifts.  The words were in my head but not in my fingers.  Thanks.

                              I'm feeling a jackpot win coming my way!

                              Avatar
                              The Windy City
                              United States
                              Member #171690
                              January 10, 2016
                              62 Posts
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                              Posted: January 10, 2016, 10:22 pm - IP Logged

                              Oh great.   Now I have to text 100 plus people in the next few days in order to provide a Happy Ending for the IRS.

                                 
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