Is there a threshold to a lottery ticket win that if you're under you don't have to claim it on taxes?

psikickreverb — Wed, 05 Jun 2019 01:26:34 GMT

No, there is not a threshold below which lottery winnings...

MinhT — Wed, 05 Jun 2019 01:26:35 GMT

No, there is not a threshold below which lottery winnings are not taxable. Lottery winnings are taxable from the first dollar and are reported as Gambling winnings.

To report the winnings in TurboTax, open your return and follow these steps:

Click on Federal in the left-hand column, then on Income and Expenses on top of the screen
Scroll down to All Income, locate the Less Common Income section
Click Show more and click Start next to Gambling winnings (see attached screenshot).

topic Is there a threshold to a lottery ticket win that if you're under you don't have to claim it on taxes? in Get your taxes done using TurboTax

Is there a threshold to a lottery ticket win that if you're under you don't have to claim it on taxes?

No, there is not a threshold below which lottery winnings...