topic lottery winnings in Deductions & credits

lottery winnings

giafofx7 — Mon, 09 Mar 2026 05:46:35 GMT

are the lottery winnings taxable in the year the ticket was purchased or the year it was cashed in.

Re: lottery winnings

AamilD — Fri, 18 Feb 2022 01:24:39 GMT

For lottery winnings, that means one of two things.

You’ll either pay taxes on all the winnings in the year you receive the money — for winnings paid out as a lump-sum payment.
Or you’ll pay taxes only on the amount you receive each year — for winnings paid as an annuity.

Re: lottery winnings

giafofx7 — Sun, 20 Feb 2022 00:46:53 GMT

If I had a 5000.00 winning lottery from 2021 but did not cash it until 2022,which year would I show the winning amount in

Re: lottery winnings

Critter-3 — Sun, 20 Feb 2022 00:57:03 GMT

Look at the W-2G form they gave you ... what tax year is on it ?

Re: lottery winnings

giafofx7 — Sun, 20 Feb 2022 01:14:14 GMT

2022 thank you did not see it

Re: lottery winnings

FangxiaL — Sun, 20 Feb 2022 01:19:29 GMT

If you are talking about a check you received in 2021 and you did not cash it, then it is taxable for 2021. You are considered actually or constructively received the winnings in 2021 even though you received the cash in 2022. The check is equivalent to cash.

@giafofx7