What are the tax implications of winning money or valuable prizes?

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What are the tax implications of winning money or valuable prizes?

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September 26, 2023 , , ,

taxes on winnings

If you gamble or buy lottery tickets and you’re lucky enough to win, congratulations! After you celebrate, be aware that there are tax consequences attached to your good fortune.

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The tax score of winning

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September 28, 2021 , , ,

taxes on winnings

Studies have found that more people are engaging in online gambling and sports betting since the pandemic began. And there are still more traditional ways to gamble and play the lottery. If you’re lucky enough to win, be aware that tax consequences go along with your good fortune.

Continue Reading: The tax score of winning