Lottery winners challenge IRS, tax court rulings

Lottery Post — Sun, 18 Jan 2004 00:02:11 GMT

Because lottery winner Benjamin Y. Lelina sold the rights to the balance of his winnings, he could lose $45,000 to Uncle Sam.The Jacksonville resident is not the only lottery winner to turn potential loser. He is just one of many caught up in an Internal Revenue Service enforcement action requiring such sales to be treated at higher personal income tax rates rather than as capital gains.The deck could be stacked against Lelina and his wife, Teresita S., in U.S. Tax Court here because the court p... [ More ]