How Winning the Lottery Can Affect Your Social Security Benefits

do seniors pay taxes on lottery winnings in massachusetts
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You don't have to win the big jackpot to owe lottery taxes Your winnings are considered taxable and are added to your ordinary income when

2 Other states have a flat tax rate on lottery winnings For example, in Massachusetts, all lottery winnings are subject to a 5% state tax In

dodo slot Withdrawals from a traditional IRA are taxable but the Massachusetts taxable amount may be different from the federal taxable amount Learn more about the rules

does buying more lottery tickets increase your odds An exemption is a reduction in local property tax Exemptions are available to the elderly, the legally blind, and veterans who have a service-connected