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(8,445 posts)

9. But could you get a tax write-off for all the losing tickets?

Mon Sep 1, 2025, 01:50 AM

Sep 1

I have no idea how that works. Are gambling losses deductible?

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Powerball jackpot grows to $1.1 billion after Saturday drawing ends without a winner [View all] Omaha Steve Aug 31 OP

Correct you are. My mistake. Good catch. twodogsbarking Aug 31 #6

And $1.1 Billion is if one takes the 30 year annuity IbogaProject Sep 2 #13

Stupid question..... FarPoint Aug 31 #2

Taxes still apply Omaha Steve Aug 31 #3

Top federal rate of 37% would apply SickOfTheOnePct Aug 31 #7

Thanks for the correction Omaha Steve Aug 31 #8

But could you get a tax write-off for all the losing tickets? intrepidity Sep 1 #9

Federal gambling winnings tax rate is a flat 24% IbogaProject Sep 2 #14

I wasted six bucks, fingers crossed! Emile Sep 1 #11

Know if you bet twice you are betting against yourself IbogaProject Sep 2 #15

No winner Emile Sep 2 #12