Sunday, November 15, 2009

On a sweepstakes prize of approx $15,200 how much tax would I owe?

Also included was $3,200 for taxes

On a sweepstakes prize of approx $15,200 how much tax would I owe?
It sounds like they took out 20%. Depending on the rest of your income for the year, that might cover it. No way to tell without more info on your total income, filing status, dependents and deductions.


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