Question

Reply #6

RJOh — Tue, 01 Oct 2013 15:27:18 GMT

Winning a prizes larger than $599 isn't easy for those playing jackpot type games either.

Reply #5

dallascowboyfan — Mon, 30 Sep 2013 09:35:13 GMT

Yep

Reply #4

duckman — Fri, 27 Sep 2013 16:30:10 GMT

Taxes are also a reason why Cash 3 games are so popular...

Reply #3

wildbillvnvmc — Fri, 27 Sep 2013 15:04:41 GMT

Are lottery tickets tax deductible? If you're big on gambling, you may have pondered this question once or twice. While you are adding up all the money you've spent buying lottery tickets over the course a year, it's also a good time to consider the possible tax deductions that may benefit you. The good news is that Uncle Sam allows you to deduct your gambling losses, but of course there is a catch.

Understanding Gambling Tax Deductions When you file your taxes, you can treat your gambling lo... [ More ]

Reply #2

rcbbuckeye — Fri, 27 Sep 2013 14:46:46 GMT

Legally you have to pay federal taxes on $500. But..... when you cash in a $500 tic, it's not reported to the IRS. If you cash a tic for $600 or more, it's reported to the IRS. In Tx, a tic worth $600 or more has to be redeemed at claim center, not a store. The claim center will report the winnings to the IRS.

Reply #1

th19940305 — Fri, 27 Sep 2013 14:38:25 GMT

Well I know in florida you can cash a $500 win at any retailer and not be taxed while a $1000 win has to be taken to the district office and they give u a check. Then at the end of the year you have to give the IRS a good part of it.

Question

Elguapo408 — Fri, 27 Sep 2013 06:57:15 GMT

I keep hearing people say they rather win $500 or two then rather win a $1000 why is that