Are all the winnings taxable?

[Sike_lottery]

Irrespective of the amount you won, even if you win just $1, will it still will be taxable? I want to believe that that is it is not all the winnings that taxes will be removed from their winnings. If I am wrong, i stand to be corrected but it is a question that need to be ask so that we will have enough experience on how taxes are being removed from our winnings and I will encourage members of this forum to make a meaningful contribution to the subject.

 

[SlotsMaster]

I don't really know if all winnings are taxable because you can win as low as $1.00 that today such an amount should be taxable because I know I think that there are some certain things that must be considered when it comes to taxes on winnings.

 

[Btaliat]

To some greater extent, whenever there are tax laws, all gamblings are always taxable. They always pay taxes on any winning. However, they don't always take tax from those that do not win in their gambling.

 

[Julio88]

It depends on your location and the laws that are applied in that place. Some countries have strict laws on taxing gambling winnings which are even deducted automatically from winnings, to be quite honest