The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: RE:Lottery winnings Date:  8/13/1999  9:08 PM
Author:  BobStL Number:  18157 of 123001

Lottery Winnings are an "annuity" if you are receiving the money over several years. The IRS looks on it as an annuity when you die and any balance of the winnings is considered "income" at that time. It sounds like it's too late for planning, you won and accepted the yearly pa