[net.taxes] taxes on lottery ticket purchaces

rcj1@ihlpm.UUCP (rj) (01/02/86)

	You cannot claim loses on lottery ticket purchases
	unless your winnings excede your losses.

	This is generally true of all gambling loses....

	Also, if your a big winner in the Lottery, Uncle
	Sam takes about 22% off the top here in Illinois.
	This gives you time to invest the rest to lower
	your tax bracket.

				Ray
				ihnp4!ihlpm!rcj1