Dump Water Florida United States
Member #380
June 5, 2002
3,580 Posts
Offline
Quote: Originally posted by grwurston on Mar 8, 2021
A W2G is the form you get from the IRS at tax time if you had to pay taxes on your winnings.
Google it and it will lead to the IRS site to see it and the instructions for it.
Most retailers can cash up to $600. Anything over that, the retailer will tell you, you will need to fill out a claim form and go the lottery office. Which means taxes will be taken out.
I can't speak for NC or Ky, but if you get separate tickets for the same number, if you win you won't have to fill out out the claim form because each ticket will be for 600 or less. As far as combining them on one ticket, you could call or email the lottery office and they will tell you what the payout rules are.
The gimmick as Stack was explaining is you win $599 plus your dollar back so while you walk away with $600 in your pocket, the $600 cap wasn't met so you don't get the tax form with your prize.