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taxes

Topic closed. 4 replies. Last post 9 years ago by Guest.

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mass.
United States
Member #55861
October 22, 2007
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Posted: October 22, 2007, 5:47 pm - IP Logged

Help. I won $4000 on a slot machine in rhode island. i live in mass. and im on disability. they took my lisence and ifo before they paid me. What do i expect to pay in taxes if any and do i have to report this income to disability and will they deduct $ from my monthly check? Thanks Everyone. J. Penny

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    NY
    United States
    Member #23835
    October 16, 2005
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    Posted: October 23, 2007, 2:43 am - IP Logged

    Gambling winnings are generally taxable income. How much you pay in taxes depends on how much taxable income you have. The withholdings are high enough that you'll probably get some of it back when you file your return. I've got no idea what the specific disability rules are, but disability is to help people who can't earn an income by working. There's no reason for taxpayers to bail you out if you earn the income some other way, so most forms of assistance have some kind of requirement to report any income over some threshold. I'd imagine that you can find out what the requirements are easily enough with a web search or a phone call.

      Guest


      Member #0
      January 1, 2000
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      Posted: October 27, 2007, 6:13 pm - IP Logged

      Help. I won $4000 on a slot machine in rhode island. i live in mass. and im on disability. they took my lisence and ifo before they paid me. What do i expect to pay in taxes if any and do i have to report this income to disability and will they deduct $ from my monthly check? Thanks Everyone. J. Penny

      Expect to pay the federal government 25% of your winnings.Every state is different.You have two states to worry about as far as taxes go.Its possible that the states have a recipracal agreement with each other as far as income taxes are concerned.A lot of states do have.This is for people that live in one state and work in another.Contact a tax specialist to see where you stand.

        MissNYC's avatar - diva
        Westchester, New York
        United States
        Member #49345
        January 27, 2007
        168 Posts
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        Posted: October 28, 2007, 11:05 am - IP Logged

        Taxes suck!

        "If you just keep believing, that dream that you wish will come true"

        Bed

         

          Guest


          Member #0
          January 1, 2000
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          Posted: October 28, 2007, 11:51 am - IP Logged

          Taxes suck!

          I Agree!