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 Why keep receipts for income tax?
i always hear about people saving there receipts in hopes of getting their taxes on the purchases back. is it true? will only medical receipts work or any purchase?...


 HELP! Federal Tax?
I don't know how to explain this too well, so bare with me...
Yanno, on your check stubs from your work how it subtracts your total pay because of state tax, and federal tax?!
I am ...


 Can I e-file my taxes without all my W-2s?
I collected all the figures for my taxes in advance from my last pay stubs. I have all the information I need to file my taxes, but will they let me do it without the W-2 forms?...


 I'm married with 2 kids, how should we file our taxes? Total income $62,000 and what we expect to see back?
...


 Is a monthly bus pass tax deductable?
I have to take the bus to work weekly. I buy a monthly bus pass at $75.00 a month. Is this tax deductable?...


 What Law Says You Need To File Taxes???
I was looking around and was wondering what LAW says you need to file taxes.. Someone said there is a law that sais each citizen needs to pay a % to taxes.. But isn't that already commin out of ...


 If i am earning 2000000 anually how much tax i have to pay & how i can save it.?
...


 Do I have to pay income tax on the dividends from my stock that i have them automatically reinvest?
I have stock in NHP which pays dividends. I do not take them out but have them automatically purchase more stock with them. Do I have to pay income taxes on those?...


 My ex claimed our son on his taxes. I mailed in my return claiming my son, what should I expect?
I had e-filed and it was rejected because my ex got to his taxes first. I called the IRS and was told to mail it in and they would send out notices and investigate when they processed my return with ...


 What are the chances that the "fair tax" will be implemented in the U.S.?

Additional Details
swg: look up Fair Tax. I'm not saying taxes are unfair.,...


 Do people have to pay taxes on welfare payments received?
...


 How do I work out a percentage?
...


 Can someone explain a W2 form to me?
i just got hired at smoothie king and he said i needed to fill out a W2 form. what the heck is that?...


 Is it true that if you are expecting a return you only have to file taxes every 3 years?
I was on the phone setting up some payments for some loans and the lady informed me that if a person is expecting a return from their taxes, they do not have to file every year, but every 3 years. S...


 Can you claim child support paid out on your taxes?
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 Is there a maximum age for a child to be claimed as a dependent on his or her parents' taxes?
...


 Budget 21st March..UK?
What do the people of the UK expect to hear in the budget on the 21st March ?
Additional Details
Davy B
We dont need tax increases to pay for more cops..NHS or prisons
If the ...


 Did you get your stimulus check yet?
...


 Why financial year start from 1st april in india?
...


 What's guaranteed besides death and taxes???
are there any other anomolies like this???...



Patty V
Can you claim your lotto tickets on your taxes?
                     
 




Cathi K
If you have gambling winnings then you can claim the losses up to the amount of winnings.


OK
Only if you also have winnings listed as income. You can deduct the amount you won if you bought that many tickets.


wartz
If you have winnings and itemize your deductions, you can claim gambling losses of any kind to the extent you have winnings.


Worldly25
Gambling losses can only be claimed against you winnings
Meaning if you won 5000 you could deduct lotto losses up to 5000.
If you won zero you cannot deduct any gambling losses


jack bauer
You can claim the lost money against your winning ticket.


xtraheavy01
Rating
You can claim the cost of the lotto tickets purrchased against any winnings


Jss
Rating
No, if you did not win this year.
Yes, as itemized deduction if you won lotto or other prize this year.


Judy1
Rating
If you are claiming lotto winnings on your return, and you itemize, you might be able to take the losing tickets as an itemized deduction up to the amount of the winnings.

But you also have to have a log you kept through the year of ALL of your gambling activity, showing any wins and losses, to be able to show you didn't just get the losing tickets from your friends or by picking them up from the floor or wastebasket at convenience stores, and to be able to show that you claimed ALL of your winnings, not just big ones where you got a 1099 for them.


fimbulvetr_now
Claim them how? As a small business loss? This question is strange. Lottery tickets are luxury items.


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