May 22, 2019 · Donating winning lottery ticket to 501 (c)3 Private Foundation: cost-basis deduction + full tax free redemption for foundation? Ask Question Asked 6 years, 10 months ago Modified 6 years, 8 …

Dec 15, 2015 · Suppose I purchase a lottery ticket today (Dec 14, 2015) and win $25K. If I wait a few weeks and redeem the ticket after Jan 1, are the taxes due based on income in this year (2015) or …

May 10, 2016 · Lottery tickets have an extremely-high likelihood of paying nothing, but in the cases where they do pay out, the returns are also extremely-high. How does this differ from actual investing?

Jul 27, 2016 · The tax on lottery winnings is based on the state where the lottery was held, because for legal purposes that's where the winnings are considered to have been earned for taxation purposes.

Mar 11, 2019 · The crucial difference between winning the lottery and "winning the insurance" (by having a damage event) is that the insurance gives you the big check at the time where you need it the …

Jan 10, 2016 · If the odds of winning a lottery jackpot are one in 292 million, and the jackpot prize is expected to be greater than than $1 billion, does this make a lottery ticket a wise investment? I know …

Mar 12, 2018 · Q&A for people who want to be financially literate

4 days ago · When buying real estate (realty, for short), how can Canadians pay purchase capital to a seller – without conveying this purchase capital to any lawyer, lawyer's trust account, or lawyer's …

May 22, 2017 · If you and another person (or group of people) went in a pool to buy a bunch of lottery tickets, and win, how does taxation work for people who split lottery winnings? Does one person …

Jun 18, 2018 · I know I can write off losing lottery tickets (a) up to the amount of any winnings, and (b) provided I itemize my federal taxes. But does that apply only to losses in the same year as winnings, …