0
50 cents -- because you are allowed to round to the nearest dollar.
You have to report winnings of any amount.
You may not receive a 1099 or W-2G if you win less than a certain amount, but you are required to report it and pay taxes regardless.
Wiki User
∙ 15y ago
Wiki User
∙ 14y ago50 cents -- because you are allowed to round tax reports to the nearest dollar.
You have to report winnings of any amount. It is taxed as ordinary income, no special consideration. You may not receive a 1099 or W-2G if you win less than a certain amount, but you are required to report it and pay taxes regardless.
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Do you have to pay taxes if you win a car?
If you win a car you are responsible to pay taxes in the state where you live.
If you win the lottery but owe back taxes will they take it out of your winnings?
Yep. but if you win, they get their money first. The odds would be better if you used the money to pay the taxes first though. Some lotteries have such bad odds you are more likely to be hit by lightening more then once then win big.
Do you win something if you match two numbers in the mega millions?
If you are playing Mega Millions and you match 0 white balls + the Mega Ball, then you get $2. If you match 1 white ball + Mega ball, then you get $3, before taxes. If you match 3 white ball, then you get $7, before taxes. If you match 2 white ball + Mega ball, then you get $10, before taxes. If you match 3 white ball + Mega ball, then you get $150, before taxes. If you match 4 white ball, then you get $150, before taxes. If you match 4 white ball + Mega ball, then you get $10,000, before taxes. If you match 5 white ball, then you get $250,000, before taxes. If you match 5 white ball + Mega ball, then you get to split the jackpot, before taxes, with everybody who picked the same numbers that you did. If you are the only person to win the jackpot, then you get all of it. If 2 (two) people won the jackpot, then they each get half of it. If 3 (three) people won the jackpot, then they each get a third of it.
What are the taxes on 800000 dollars?
What are the taxes on an 800,000 lottery win in the state of MS
Where can i Wizard of Waverly place script?
max is the best and I think that max is going to win.
If you win a Car or two on the price is right do you have to pay the taxes before you leave?
Cars need to be licensed registered and insured in most cases before they can be driven. There are both federal and state income and state sales taxes that must be determined on any large winnings. That may be why the Wheel of Fortune now includes $5,000 cash when you win a car on the bonus spin
How do you capture a roarhide max on invizimals?
i do not know i think you have to desert dasis tournament win and you get a roarhide max
What are the release dates for For the Win - 2011 How to Delay Paying Your Rent 2-15?
For the Win - 2011 How to Delay Paying Your Rent 2-15 was released on: USA: 25 April 2013
Who will win the family wizard out of alex max and Justin?
Alex
Who will win the top 5000 on max?
imagine, john Lennon
Who would win Maximum Ride or angel?
max would definetly win because she is the boss of angel
What Nobel Prize did Max Born win and when was it awarded?
Max Born won The Nobel Prize in Physics in 1954.
