I won a trip and the taxes are around 1200 dollars. I heard somewhere that if you have scratch off tickets that are losers that amount goes toward your taxes. So if I save up 1200 dollars worth of lost lotto tickets, will i not have to pay taxes. Anyone know.

 

Comments

  • You can ask your CPA, but I don’t think you can turn in losing lottery tickets as a tax deduction. It is disgusting that the government want $1,200 for a trip you won. But that’s just how it works in this country. In many other countries, if you win a trip it’s your lucky day and the government doesn’t come sniffing around for tax.

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