Won money in lottery can I claim all my looser tickets against the win?
- R KLv 71 year ago
you can't claim more than you won.
- zman492Lv 71 year ago
In the United States, for federal income tax purposes, gambling losses up to the amount of gambling winnings, may be claimed as itemized deductions. If you do not itemize deduction you will owe federal income tax on the entire amount of gambling winnings.
For state and local income tax purposes the laws vary by location. In some locations you will owe taxes on gambling winnings but will not be able to deduct gambling losses.
If you happen to receive Social Security benefits you should also see
- Valleycat1Lv 71 year ago
Yes. As long as you kept all those tickets as proof of the losses.
- Anonymous1 year ago
I don't know where you are but there is no tax due on UK lottery wins.