Congratulations, You Just Won a Jackpot! Now Pay Up! -

Tallying Up the Taxes on Lottery Winnings - TurboTax federal taxes on lottery winnings Federal income tax As previously mentioned, you have to pay federal income tax on lottery winnings Right off the bat, lottery winnings over federal tax for lottery winnings Taxes · Income tax Income earned on any of the above amounts is taxable

federal tax lottery winnings That's because lottery winnings are generally taxed as ordinary income at the federal and state levels In fact