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Old 01-13-2007, 05:08 AM
bottomset bottomset is offline
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Join Date: Oct 2004
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Default Re: beat: $315m powerball winner now broke

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If he was losing tons of the monies at casinos after he hit the jackpot, couldn't he write off some of those losses and recoup some of the monies paid in winnings taxes?


Is that possible?

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no and it's not even close.

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are you sure?

I thought they withheld the money, like it was a quarterly payment and you can make normal deductions which may lower your tax bill
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