The only difference of "class" that I can think of might be since it's not from ... | Hacker News

Hacker Newsnew | past | comments | ask | show | jobs | submit

		jrs235 on March 19, 2018 \| parent \| context \| favorite \| on: Some people repeatedly win the Wisconsin Lottery. ... The only difference of "class" that I can think of might be since it's not from employment then it wouldn't be subjected to FICA. Otherwise, from my understanding it is taxed as regular income tax rates. Is this what you are alluding to?

eric_h on March 19, 2018 [–]

https://www.efile.com/taxable-gambling-winnings-income-taxes... suggests that winnings are taxed at a flat 25% up to $5000 and beyond that it's treated as income.

jrs235 on March 19, 2018 | [–]

Awesome. Thanks for that info and link!

This is another reason to keep and all losing tickets... to offset your winnings and applicable taxes.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact