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Topic closed. 7 replies. Last post 4 years ago by psykomo.

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Original Bey's avatar - Lottery-022.jpg

Bahamas
Member #133462
September 30, 2012
5946 Posts
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Posted: December 22, 2012, 10:19 am - IP Logged

Jackpots are being won in the Mega Millions at such a rapid rate players can barely get themselves together to go in and collect their winnings.

 

To date, 3 jackpots have yet to be claimed not that an inordinate amount of time has passed, but I do hope no tickets are lost in this cliuster of winnings.

 

Jackpots pending:

 

September 18, 2012 - New York (Just passed the halfway mark)

 

October 16, 2012 - California

 

November 2, 2012 - New York

"Everything works  ONCE!"

    msharkey2001's avatar - Trek startrek.gif
    New Hampshire
    United States
    Member #136492
    December 12, 2012
    322 Posts
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    Posted: December 22, 2012, 11:56 am - IP Logged

    I'd imagine they'll all be turned in prior to year end assuming they're not lost due to impending tax increases for 2013.

      Original Bey's avatar - Lottery-022.jpg

      Bahamas
      Member #133462
      September 30, 2012
      5946 Posts
      Offline
      Posted: December 22, 2012, 12:01 pm - IP Logged

      I'd imagine they'll all be turned in prior to year end assuming they're not lost due to impending tax increases for 2013.

      Yeah I'm hoping none was lost or that pending for most of them means processing is actually underway.

       

      This would be income earned in 2012 and unless Southside Johnny makes it retroactive, it should be taxed under the current tax codes, no?

      "Everything works  ONCE!"

        msharkey2001's avatar - Trek startrek.gif
        New Hampshire
        United States
        Member #136492
        December 12, 2012
        322 Posts
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        Posted: December 22, 2012, 12:23 pm - IP Logged

        Yeah I'm hoping none was lost or that pending for most of them means processing is actually underway.

         

        This would be income earned in 2012 and unless Southside Johnny makes it retroactive, it should be taxed under the current tax codes, no?

        You bring up an interesting point. I had always assumed income was taxed when it was received (or claimed for lottery winning purposes) and not earned (or won). I know that the paycheck that I "earn" next week from my job (week ending December 29, 2012) which I'll actually receive on January 3, 2013 will count as income for 2013 and not 2012 since I will draw my paycheck in the new year. Lottery winnings would be treated the same yes???

          Original Bey's avatar - Lottery-022.jpg

          Bahamas
          Member #133462
          September 30, 2012
          5946 Posts
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          Posted: December 22, 2012, 12:32 pm - IP Logged

          You bring up an interesting point. I had always assumed income was taxed when it was received (or claimed for lottery winning purposes) and not earned (or won). I know that the paycheck that I "earn" next week from my job (week ending December 29, 2012) which I'll actually receive on January 3, 2013 will count as income for 2013 and not 2012 since I will draw my paycheck in the new year. Lottery winnings would be treated the same yes???

          I am hazarding a guess here, but it may have something to do with how your company records it. Someone more savvy on the tax code on LP may be able to clarify.

           

          Let's start digging for more deductions either way - lol

          "Everything works  ONCE!"

            psykomo's avatar - animal shark.jpg

            United States
            Member #4877
            May 30, 2004
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            Posted: December 24, 2012, 4:48 pm - IP Logged

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              psykomo's avatar - animal shark.jpg

              United States
              Member #4877
              May 30, 2004
              5120 Posts
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              Posted: December 24, 2012, 6:12 pm - IP Logged

              I'd imagine they'll all be turned in prior to year end assuming they're not lost due to impending tax increases for 2013.

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                psykomo's avatar - animal shark.jpg

                United States
                Member #4877
                May 30, 2004
                5120 Posts
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                Posted: December 24, 2012, 6:34 pm - IP Logged

                Jackpots are being won in the Mega Millions at such a rapid rate players can barely get themselves together to go in and collect their winnings.

                 

                To date, 3 jackpots have yet to be claimed not that an inordinate amount of time has passed, but I do hope no tickets are lost in this cliuster of winnings.

                 

                Jackpots pending:

                 

                September 18, 2012 - New York (Just passed the halfway mark)

                 

                October 16, 2012 - California

                 

                November 2, 2012 - New York

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