#Lottery Tax Deductions

2 articles

Tournaments

Michigan Man Wins $500,000 with $5 Lottery Ticket

A man from Livingston County, Michigan, won $500,000 from a $5 Stampede Payout scratch-off ticket. He plans to pay off his house and go on vacation with his winnings.

September 3, 2026·1 min read

News

Gamblers Buying Losing Lottery Tickets to Offset Taxes: Is It Fraud?

Gamblers are purchasing losing lottery tickets to deduct losses and reduce their taxable winnings. The IRS has clear rules, but some gamblers may be misreporting their wins and losses.

August 17, 2026·1 min read