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Started By
Message
1
Posted on 10/24/18 at 12:44 pm to Mingo Was His NameO
quote:
It's not that complicated.
There are actually several moving pieces to this.
What type of payout the winner takes
Who is the entitiy paying out the winning and tax
Are the taxes held out at the beginning or filed
How does the entitiy paying out the winnings supply the tax money now or over time
It is more complicated than a lemonade stand.
Posted on 10/24/18 at 12:45 pm to iAmBatman
quote:
iAmBatman
Still has no idea how to answer the question without research
Posted on 10/24/18 at 12:49 pm to Jcorye1
quote:
The income was earned where you bought the ticket.
I assume it is not considered income until it is cashed in.
Or maybe it is? Seems like I read that game winning baseballs for instance have value and can be taxed (as an example).
Posted on 10/24/18 at 12:55 pm to weagle99
quote:
Or maybe it is? Seems like I read that game winning baseballs for instance have value and can be taxed (as an example).
Realized and recognized baw.
Posted on 10/24/18 at 12:59 pm to weagle99
quote:
Still has no idea how to answer the question without research
I'm a CPA...I don't have to research it
Posted on 10/24/18 at 1:13 pm to weagle99
quote:
weagle99
You are retarded and your threads are fricking terrible
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