How Winning the Lottery Can Affect Your Social Security Benefits

do lottery winnings count as income
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For IRS purposes, winnings from lotteries and game shows are counted separately from your other income Such winnings fall under the category of Income from

Unless you are a professional gambler, gambling income is included as income on your taxes and it's taxed at a rate of 24% Casinos should withhold this portion

do lottery winnings affect social security Lottery winnings don't count as earned income for Social Security benefits Do lottery winnings count as earned income for Social Security purposes?

double dragons slot machine The IRS considers game show winnings to be part of your taxable income For the lottery or most casino gambling, however, you can deduct your