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Topic closed. 21 replies. Last post 5 months ago by TinkerMazell.

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Blundering Time Traveler

United States
Member #28945
December 25, 2005
1527 Posts
Offline
Posted: July 1, 2016, 9:59 pm - IP Logged

Welcome to the LP scotty921!

Hope you enjoy the ride while learning a lot and making a good profit.

Good luck to you!

Legend says that The Craggy One was once asked about the Lottery Circle and the aged Lottery LoreKeeper whispered in his gravelly eloquence,"It is known among our kind that 2 successive draws are in reality the 2 center-points of 2 intersecting circles that share a common radius - a Root Center. This Vesica Piscis is the creative womb for all numbers, the Still Point from which two draws will unite & a new one is born. This "perfect" space is a wormhole through Time(Change). Master its proportions & your numerical predictions will not falter". 

    Jorli D's avatar - nw saucyelf2.jpg
    Michigan
    United States
    Member #2448
    October 4, 2003
    25879 Posts
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    Posted: July 1, 2016, 10:02 pm - IP Logged

    Welcome to LP!

      zephbe's avatar - animal butterfly.jpg
      South Carolina
      United States
      Member #77167
      July 15, 2009
      554 Posts
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      Posted: July 2, 2016, 5:49 am - IP Logged

      Ha ha , you all are funny . you know as well as I do that if you would win $1.00-$599 a day you wouldn't say anything to anybody. all good points but after the draw who is going to be the first one after a month of winning running to the IRS. I want to meet that person. Wink

      When you do meet him, I've got a dunce cap for you to give him.  Green laugh

      Every champion was once a contender who refused to give up.-Rocky Balboa

      “Don’t let someone who gave up on their dreams talk you out of going after yours.” – Zig Ziglar

        TinkerMazell's avatar - Lottery-035.jpg
        Augusta, Georgia
        United States
        Member #127854
        May 10, 2012
        81 Posts
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        Posted: July 2, 2016, 10:27 am - IP Logged

        No. Technically winning even $1 needs to be reported on your taxes as income, but small amounts are too much of a bother for most people and the IRS  so it isn't a big deal if you don't report it. But if he wins it each and every day and lives off it as his sole or a major part of his income, then the IRS would demand their cut. 

        A cash three ticket played straight for a dollar wins $500. They don't take taxes out of anything under $600. Therefore it's tax free and if YOU want to report YOURS go ahead. The IRS can't demand something they don't know about.

        I am a $20,000 winner from a Georgia Lottery scratch off game called "$3,000,000 Taxes Paid"!

          Kingofearth's avatar - Kinnak
          Upstate NY
          United States
          Member #174656
          May 5, 2016
          753 Posts
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          Posted: July 2, 2016, 1:43 pm - IP Logged

          A cash three ticket played straight for a dollar wins $500. They don't take taxes out of anything under $600. Therefore it's tax free and if YOU want to report YOURS go ahead. The IRS can't demand something they don't know about.

          Legally speaking, you are REQUIRED to report that $500 on your next tax return and YES THEY TAX IT. However if you don't, the IRS wouldn't really care. But if a large portion of your income is from lottery winnings or you consistently win over $600 (That's when they start keeping track), then you'll have a lot of explaining to do and a lot of tax evasion charges to face.   

            Kingofearth's avatar - Kinnak
            Upstate NY
            United States
            Member #174656
            May 5, 2016
            753 Posts
            Offline
            Posted: July 2, 2016, 1:46 pm - IP Logged

            Ha ha , you all are funny . you know as well as I do that if you would win $1.00-$599 a day you wouldn't say anything to anybody. all good points but after the draw who is going to be the first one after a month of winning running to the IRS. I want to meet that person. Wink

            This is an English language forum. Please learn how to write properly before continuing. 

              TinkerMazell's avatar - Lottery-035.jpg
              Augusta, Georgia
              United States
              Member #127854
              May 10, 2012
              81 Posts
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              Posted: July 2, 2016, 2:34 pm - IP Logged

              There will be no explaining to do because (like I said), each winning ticket if played for $1 straight wins $500. There is absolutely no way and no reason for them to keep track. You can cash a winning ticket at any gas station. No names are exchanged and nothing is signed. I guess you have never won a cash 3 or pick 3 game. Same goes true if you buy one ticket or a thousand. Each ticket is under $600, therefore it is not taxed. A thousand tickets? You do the math. Tax free.

              I am a $20,000 winner from a Georgia Lottery scratch off game called "$3,000,000 Taxes Paid"!