https://www.lotterypost.com/thread/132089 Lottery Post Forum Topic: Paying Taxes when playing Online ?? en-us Lottery Post RSS Generator https://www.lotterypost.com/thread/132089/578293 https://www.lotterypost.com/thread/132089/578293 Sat, 08 Apr 2006 10:32:06 GMT Jack4 I know if I won a $5,000 in the pick 4 in my state, that After tax Ill only get a lousy $3,100. Thats pathetic! It almost takes the incentive out of playing. Its hard enough to win at all and when you do the gov takes half.

]]> Jack4 https://www.lotterypost.com/thread/132089 https://www.lotterypost.com/thread/132089 Sat, 08 Apr 2006 10:29:28 GMT Jack4 I checked around and I still am confused about What a someone has to pay in taxes when they win pick 4 at online lottery playing sites.

One site says that they withhold 25 percent for federal taxes on winnings over 5grand, But does that mean I dont have to pay any federal tax on winnings under 5G? Or am I still expected to pay those taxes on my own? What about State taxes ?

I also would like to know if those of you who play and win online, report your winnings to the irs or if t... [ More ]

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