Look what I won this morning

Enjoy ! They don't come very often.

Well done Loyd!

State run lotteries are revenue generators for the states that have them. Many have specified (by law) where that revenue, or a large percentage of it, must go, like schools, parks or other state infrastructure. It's a tax willingly paid with every ticket purchased by the buyer. Nobody is forced to buy lottery tickets.

Was my use of the word "elect" too nuanced?

Thanks PJ. I went to the lottery claim office to claim my money and they told me that the IRS has changed it's rules and since I didnt win more than 300 times the bet I do not have to report it.

They cut me a check for a grand and I got a winner's T-shirt.

Be careful not to confuse "I do not have to report it" for "I don't have to pay taxes on it." They are not the same.

It's true that the lottery doesn't have to give you a W2-G and file it with the IRS. But you do have to pay income taxes on the $1,000. To deduct your losses, you must be able to provide receipts, tickets, statements or other records that show the amount of both your winnings and losses. If you can't do that, the $1,000 is taxable as income.

That's just another uneducated statement by the resident liberal. You can deduct losses IF you want, and whether you actually had them or not. You only MAY need offsetting receipts if you get audited and if they want to see them.

Now let's see a show of hands for those who win a few thousand this year and choose to report it in that manner so they can pay more taxes! So onto the real world: who here wins net and chooses to deduct gambling losses on schedule A up to the amount of those wins so they won't be taxed on the wins? Thought so.

When I get a hand pay, I get a W2. We collect those and turn them in with a P & L statement from each casino we played in with any consistency. Only twice in 20 years have we won more than we lost. This year may well be a third time, although we have one more Vegas trip late this week that could tip the scales back to the loss column.

You need to try harder. Don't forget about all those losses at the craps tables when the casino never even bothered to swipe your card.

I see the $10 price of the scratcher. That is expensive for a scratch off card.