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How to win the State Lottery affect my income tax?
I am a student of 18 years. My aunt bought a winner checked Playing for the Florida-4 lottery, $ 800.00. She asked me to use my information to collect the tickets. When I did, I received a Form W2-G and declared a total income of $ 800.00 without taxes taken out of him. How will this affect when I file my regular tax income next month? Thank you in advance.
So … your aunt did some tax evasion by staining your name. If you are a student with $ 0 in earned income, you owe tax only the first $ 900 is not taxed. If you are a student with, say, $ 2,000 of earned income, you pay $ 50 for your standard deduction covers only the first $ 300 of it. The mention to your parents and ask them what they think your aunt is borrowing your name and SSN.
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