Rip up the winning ticket? 5 reasons why winning lottery can destroy

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Say you win a $10 million prize If you take the lump sum option, the entire sum is subject to income tax that year However, if you choose the annuity option,

A lottery ticket is considered a bearer instrument, which means whoever signs the ticket can claim the winnings So, if you were to lose an unsigned winning 2 An advisor comes to your home to validate the win The next step is to have the winning ticket validated This means a National Lottery

texas holdem poker cards ranking Lottery winnings are considered taxable income for both federal and state tax purposes and must be reported as such Lottery winnings are taxed Steps · Stay quiet about winning the lotto · Read the instructions on the lottery ticket · Get a lawyer · Claim your prize anonymously · Ask your attorney