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help420
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If i won on a lotto ticket and had to pay state and federal tax do i get it back at tax time ?

 
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If i won on a lotto ticket and had to pay state and federal tax do i get it back at tax time ?

Withholding on lottery winnings works exactly like withholding on a W-2.

If you were under withheld, it may decrease your refund somewhat (or increase taxes due) If the winnings were over withheld, it may increase your refund.

Like a W-2, the only way you will get a full refund of your withholding(s) would be to have no taxable income.

To get an estimate of your tax result and refund, see Tax Caster


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5 Replies

If i won on a lotto ticket and had to pay state and federal tax do i get it back at tax time ?

Withholding on lottery winnings works exactly like withholding on a W-2.

If you were under withheld, it may decrease your refund somewhat (or increase taxes due) If the winnings were over withheld, it may increase your refund.

Like a W-2, the only way you will get a full refund of your withholding(s) would be to have no taxable income.

To get an estimate of your tax result and refund, see Tax Caster


help420
New Member

If i won on a lotto ticket and had to pay state and federal tax do i get it back at tax time ?

I'm disabled . No taxable income other then that, it said approved for 14 days , I just wasn't sure if I get it back or not . Thank you:)

If i won on a lotto ticket and had to pay state and federal tax do i get it back at tax time ?

OK, then it will depend on the amount of winnings. If it is not enough for you to be requited to file, you will receive an entire refund of your withholding(s). See Do I Need to File a Tax Return? <a rel="nofollow" target="_blank" href="https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return">https://www.irs.gov/help/ita/do-i-need-...>
help420
New Member

If i won on a lotto ticket and had to pay state and federal tax do i get it back at tax time ?

They held $1900 federal and 200 state

If i won on a lotto ticket and had to pay state and federal tax do i get it back at tax time ?

II you need to file a tax return (see above link), you won't get a full refund.. You can also use Tax Caster above to preview your result.
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