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Claiming a prize over $600Reply
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.
Sep 28, 2013, 7:30 pm - RJOh - Instant ("Scratch-Off") Games Forum

QuestionReply
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.
Sep 27, 2013, 10:46 am - rcbbuckeye - Instant ("Scratch-Off") Games Forum

A scratch off with less big prizes and more mid-range prizes. Does it exist?Reply
I was saying it would be cool if they had a $20 or even a $10 ticket with a much smaller top prize and way more $500 prizes than usual. I think the reason they want those bigger prizes to be 1k and up is that they tax it and get more $ back that way. They don't want to cut out $1 million prizes and feed that into more smaller $100 and $500 prizes because they would lose out on like 400k in taxes (rough guess) per each million $ prize that was taken out to put that money into smaller prizes.
Jun 4, 2013, 11:30 am - MDguy - Instant ("Scratch-Off") Games Forum

Florida's Billion Dollar BlockbusterReply
Hey can you tell me what Flordia lottery FEIN (federal employer identification number) is ? Its on the w-2g form. I lost my forms and need the number to file taxes and the lottery is closed till monday.
Apr 12, 2013, 5:21 pm - James1 - Instant ("Scratch-Off") Games Forum

Post your scratch ticket resultsReply
You write off when you do your taxes. If you see any other people with scratch tickets dont be afraid to ask what they won. could give you valuable insight on what tickets are hitting in your area.
Apr 11, 2013, 11:39 pm - James1 - Instant ("Scratch-Off") Games Forum

Playing every ticket from a machine.Reply
Half back is not bad. Playing this way you would think you would'nt hit on any. Waiting for my taxes so i can do 4 states. I can be in 3 states within 4 miles.
Mar 10, 2013, 7:31 pm - RedStang - Instant ("Scratch-Off") Games Forum

Post your scratch ticket resultsReply
I'm sure I'll need some computer help in the future. From a tax standpoint, it may sound hoarder-ish but keep ALL your losing tickets. You never know when you'll need them to offset that big win when it comes time to file your taxes.
Feb 10, 2013, 8:18 pm - PAJenn - Instant ("Scratch-Off") Games Forum

Post your scratch ticket resultsReply
Been picking scratchers off the ground for taxes. Someone scratched only the top numbers and the part under the number where it says ttytw,ttyon,ttysx. What a strange stragety.
Jan 20, 2013, 11:33 am - RedStang - Instant ("Scratch-Off") Games Forum

Missouri Scratcher playersReply
Has anyone been playing the $3 Bingo Mania tickets. I think I have purchased around 10 and have only won about $15 from them. Also, i have been playing more of the $750,000 taxes pd ($10) tkts latetly and won back $30 from the last 6 tickets I bought. I got the last 3 from a roll this morning thinking I should hit something good, but only won $20.
Aug 15, 2012, 9:56 am - raiders1154 - Instant ("Scratch-Off") Games Forum

Post your scratch ticket resultsReply
I'm not too fond of tickets with prizes. 1.odds don't seem to favor the player because of paying the rights to that brand. 2.paying taxes on the ratail amount on that prize.( I have to come up with that cash somewhow). My experience tells me that chasing the next $5 ticket probably would be disapointing. Good Luck.
Aug 4, 2012, 6:53 am - Wooddrive - Instant ("Scratch-Off") Games Forum