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aajo
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syanjali 5159 days ago

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 TAX with lottery help!!!!!!!
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Posted on 03-11-10 9:09 AM     Reply [Subscribe]
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hi Sajha Tax experts,


Last year I won around 6000 in lottery( scratch tickets). I cashed it from the lottery. I am a student and don't work using my s.s. I heard that if you collect loosing ticket worth the amount you have lost you dont have to pay the federal tax. Now when i use turbo tax to file the tax, it shows that i have to pay them back. Have you guys gone through such condition or any suggestions reguarding this. By the way i live is Massachusettes.


Thanx
 
Posted on 03-11-10 9:25 AM     Reply [Subscribe]
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I have never looked on 1040 NR, are you eligible for 1040?
If your answer is yes? You can deduct gambling loss on Federal, but it is up to 100% percent. Lottery expenses is allowed by MA is the cost of winning tickets.
If IRS asks for proof of your gambling expenses , the burden of proof goes on you.
Last edited: 11-Mar-10 09:54 AM
 

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