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Our 18 Year-Old Son Won $10,000 in the Lottery. If he files a Tax Return, Can We Still Claim Him as a Dependent?
My 18 year-old son won $10,000 from a scratch-off ticket in the Florida lottery. He is a Senior in high school and has no job and no income, therefore his total earnings for 2023 is $10,000. When he claimed his prize, they withheld 24% in Federal Taxes ($2,400) and 0% state taxes (Florida has no state income tax). If he files a tax return, can he get part of that $2,400 back? If so, how much? And if he files a tax return, will we still able to claim him as a dependent on our joint (married) tax return? What is the best course of action here? Thanks!
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‎December 28, 2023
10:55 AM