Oregon Lottery 1099 Form
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People also ask
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How do I contact the Oregon Lottery?
Unplanned closures or delays will be announced through FlashAlert or you can call 800-766-6789 daily, 7AM – 8PM.
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Can you claim lottery under a trust in Oregon?
Although Oregon prohibits limited liability companies and trusts from claiming the jackpot, other groups of people can.
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Do federal taxes come out of lottery winnings?
Lottery winnings are considered ordinary taxable income for both federal and state tax purposes. That means your winnings are taxed the same as your wages or salary, and you must report the entire amount you receive each year on your tax return.
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Can you write off gambling losses in Oregon?
Generally, you may deduct gambling losses up to the amount of your taxable winnings. How- ever, Oregon doesn't tax winnings of $600 or less from a single play or ticket from the Oregon Lottery.
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What are the chances of winning the lottery in Oregon?
Odds of winning Oregon Lottery games GameTo win this amount ...your odds are: $20,000 1 in 25,000 $1 million 1 in 250,000 $3 Scratch-it, $30,000 Triple Play $10 1 in 40 $100 1 in 1,44021 more rows • Nov 28, 2013
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Do you have to pay federal taxes on Oregon Lottery winnings?
Non-Video Lottery prizes over $5,000 will have both the 8% state and 24% federal taxes withheld. Video Lottery prizes only have the 8% state tax withheld.
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What is the federal tax on prize winnings?
Generally, the IRS taxes prize money as ordinary income. This means that whatever percentage you are taxed for your regular income, that same rate will apply to the prize money you received.
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Where do I claim Oregon Lottery winnings?
All other lottery prizes up to $600 can be claimed at any Oregon Lottery retailer. Drop box available for all prizes up to $49,999 at Salem payment center, or you can mail in claim. For prize claims $50,000 and above please contact the Oregon Lottery at 800-766-6789 for assistance.
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