itsjustme
 |
My brother hit $100K in the Power Ball a few years back, in Indiana. They took around $31k for taxes. That year he wound up paying another 10k or so. Really put him in a bind! I would expect to have to pay considerably more than they withheld. |
|
55yrsnholdin
|
Since you are in a much higher tax bracket, you can hope that you paid enough with your 33,000. I will bet they want more. |
|
gobonzzo
 |
That was just withholding. Wait until you file your return, I bet you will have to send in lots more. A sudden spike in income can be deadly. |
|
Judy1
 |
Without knowing your total income for the year, including the lottery win, there's no real way to say. But if they deducted the normal 20% of your winnings, you are almost surely in a higher bracket than that, so don't be thinking about a refund, think instead of how much you will probably have to pay.
If you'll post again giving your total income for the year and your filing status (single? married with a joint return?) somebody can probably give you a worst-case number - deductions like dependents (especially children under age 17) and itemized deductions can make a difference also, and there are too many things that could matter to list here, but you can at least get a ballpark figure. But it will be very surprising if you get a refund - much more likely that you'll owe additional amounts. |
|
bostonianinmo
|
No way to know. How big was the win and how much is your other income? It's entirely possible that you'll still owe at tax time. Without knowing ALL of your financial and tax information there's no possible way to give a meaningful estimate. |
|
jenzerelli
|
Im Canadian, so I don't know exactly how capital gains tax works in America, but I would expect that you don't receive any refund...
Lottery winnings are the same as earning an income, the government gets their share too. |
|
MoB
 |
My goal is to someday pay one million dollars in taxes. And I would gladly with a big smile on my face write the check for it. Do you know how much money I would have to make to owe one million dollars? What a blessing! |
|
kevin h
|
Well, you shouldn't expect anything back from the taxes you paid for the lottery win. They tax it at a certain rate, and that's probably exactly what you paid. You don't get that back. The rest really depends on how much you make, and how many dependants, and so forth. Consult a CPA. You should have more than enough to cover their expenses. |
|
greenman
|
none if it was paid just out of winnings |
|
cody szklarski
|
none. your refund shouldn't be on your mind.you got enough from your winnings. o, and congrats on the win. |
|
Ryan A
|
i dont think you get a refund on the lottery
o and i hate you JK
out of curisoty what were the winning numbers
lol |
|
DLA
|
where is my share |
|
Kaska
 |
None why should you even care. If you paid $33,000 in taxes then your winnings were millions?
Stop being cheap.
Find a tax shelter to protect what you have left |
|
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
