Q&A: how much after $5,000 do i get i played new york lotto win4?

Question by israa i: how much after ,000 do i get i played new york lotto win4?
hello i hit the lotto and i won ,000.00 dollars i would like to know how much money i will get after taxes new york city taxes i live in bronx please tell me thank you

Best answer:

Answer by Wendy
i heard they take out 15% out of what u win, my friend just won 1,000 and they took out 200. they want you to report it on your taxes.

What do you think? Answer below!

There Is 1 Response So Far. »

  1. 15% of 1,000 is 150. :

    If it really is 15%, then they will take out $750. I think it’s probably closer to 20% at least, which would be $1,000.

    You might want to ask them to take out MORE than that, believe it or not. You WILL owe taxes next year on the whole $5,000. If you have them take out the minimum now, you’ll owe money next April. If you have them take out a little extra right now, you might actually get back money from your income taxes in April.

    By the way – save all your losing lottery tickets. Also ask some friends to give you some of their losing tickets. Also save any other gambling receipts. (If you go to a casino, bring back receipts from ATM’s, etc.)

    The reason you want to save these tickets and receipts is so that you can claim that you actually LOST $5,000 on gambling throughout the year, too. This way you will owe less taxes.