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watersosman
New Member

If I won 150k and the irs took 37k for taxes,could I get some of that back when I file?

 
1 Best answer

Accepted Solutions
SweetieJean
Level 15

If I won 150k and the irs took 37k for taxes,could I get some of that back when I file?

That depends upon filing status, other income, deductions, credits, etc.  Try this Federal tool:

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

http://fairmark.com/general-taxation/reference-room/2016-tax-rate-schedules/

Consider your state taxes as well.

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3 Replies
SweetieJean
Level 15

If I won 150k and the irs took 37k for taxes,could I get some of that back when I file?

That depends upon filing status, other income, deductions, credits, etc.  Try this Federal tool:

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

http://fairmark.com/general-taxation/reference-room/2016-tax-rate-schedules/

Consider your state taxes as well.

TaxGuyBill
Level 9

If I won 150k and the irs took 37k for taxes,could I get some of that back when I file?

So it is possible that you could get some back, but it is also possible that you may OWE more.
VolvoGirl
Level 15

If I won 150k and the irs took 37k for taxes,could I get some of that back when I file?

That was just an estimated amount.  Like withholding out of your paychecks.  You have to add the full gross amount to your income and figure the total tax then subtract all your withholding to get the tax due or refund.
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