5 Tips for Avoiding Taxes on Lottery Winnings

how to avoid taxes on lottery winnings
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Federal Form 5754 is also used when the person receiving gambling winnings subject to reporting or withholding is not the actual winner This form lists the

If you personally claim the prize on behalf of the pool, be sure to have a written contract defining everyone's shares so you're not responsible

how to play casino slot machines winnings If you sell or otherwise dispose of an asset that was a prize from a lottery, you must declare any capital gains you make in your tax return You

how to bet in omaha poker In another instance, a family was able to avoid the application of the gift tax by establishing the existence of a family partnership prior to