California - Subtractions--Lottery Winnings

For the second time this month, a billion-dollar Powerball winner was revealed in California while the lottery's current jackpot prize inches

As with any prize, the home's fair market value must be reported on Form 1040 as other income, and will be taxed at your marginal income tax rate Unless they

lottery us If you win the Mega Millions jackpot in California, you'll be happy to know that there are no taxes on lottery winnings in the state That's

lottery sanbad California does not tax lottery winnings If individuals win the lottery in California, they are not required to pay state taxes on their winnings However,