From 7/10/98 Tax Q&A"If a state lottery prize is payable in installments, you must include the annual payments and any amount designated as interest on the unpaid installments in income as received. If you elect to receive payment of a state lottery prize in a lump sum, you must include the entire lump sum in income in the year received. "Is this capital gain or ordinary income? Do you have any references for the above quote?Thanks,Bill
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