Claiming a prize over $600

Reply #7

Bradly_60 — Thu, 10 Oct 2013 00:48:44 GMT

It was actually pretty quick for me. I walked in...no line. Filled out one sheet and she processed the ticket while I was doing that. Verified my ID, cut me a check and I was out the door. I don't think it took me more than 15 minutes.

But there were tickets for sale at the counter at this place as well...lol.

Now just want to go back to claim an even bigger prize!

Brad

Reply #6

Risky — Sun, 06 Oct 2013 06:04:06 GMT

I won a $1000 on a $10 scratcher a few years ago and I had to go to a claim center here in Florida to claim it.

Two things.

1. They make you fill out paperwork and then they fax a bunch of stuff over to whatever city the the state lottery is based. This took over an hour.

2. They friggin SELL tickets and scratchers at the office. So while you are bored waiting for your prize you end up being baited into playing more.

Reply #5

dallascowboyfan — Mon, 30 Sep 2013 09:33:18 GMT

Congratulation Bradly Like others said it has to be reported. Let us know how it went at the claim center.

Reply #4

Think — Sun, 29 Sep 2013 23:49:48 GMT

Most people are way, way behind...including me.

I take any winnings and use them to buy more tickets. I wouldn't do that if I hit really big though.

Reply #3

RJOh — Sat, 28 Sep 2013 23:30:30 GMT

Legally you are suppose to report all your lottery winnings on your taxes even if they are smaller than the amounts states send out a W-G for. No amount of lottery winnings is tax free, it's just that small amounts aren't worth the states creating paper work or going after if not reported.

Reply #2

Think — Sat, 28 Sep 2013 23:10:43 GMT

Congratulations. In over 30 years of playing I have never had anything that big.

You need to take all tickets over $600 and up to $50,000 to a claim center. Go with the other person and ask the claim center how to claim it for two people. I am sure, though, that both of you will each need your ID and SS card and your win of $500 each will both be reported. You can't avoid it just because it is less than $600 per person. The ticket is over $600 so it has to get reported.

I have no idea h... [ More ]

Reply #1

duckman — Sat, 28 Sep 2013 21:43:54 GMT

Your state lottery will report the $1000 win to the IRS with the appropriate form and the person claiming the $1000 will have to report it. You may be able to deduct losses from playing the lottery this year up to the amount of winnings. As the disclaimer goes, consult your accountant to determine what is best for your situation.

Claiming a prize over $600

Bradly_60 — Sat, 28 Sep 2013 20:19:52 GMT

I won $1,000 on a scratch game today. If I split the prize with someone so that we each get $500 do we have to claim it for tax purposes? Since we essentially each get a prize that is less than $600, I am wondering. Anyone know? Thanks