Pub 600 Wisconsin Taxation of Gambling Income July 2024

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Because even if you were to win a fraction of the jackpot, you can deduct a certain amount of the money you spent to win the cash prize–on your

Using the Wisconsin Lottery mobile app, you can choose your own numbers when purchasing tickets for Powerball, Mega Millions, Megabucks, Badger 5, SuperCash!, Gambling losses are only deductible up to the amount of your gambling winnings You can never show a gambling loss more than winnings for tax purposes Gambling

芦川夕子 As per the IRS “You may deduct gambling losses only if you itemize your deductions on Schedule A and kept a record of your winnings Lottery winnings are subject to withholding as well as to federal and sometimes state taxes If you win big, plan for the taxes ahead of