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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13316
Experience:  15years with H & R Block. Divisional leader, Instructor
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won 340,000.00 lotto took 25% 85,000.00 got a check for 255,000.00

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won 340,000.00 lotto took 25% 85,000.00 got a check for 255,000.00 what % would be paid to state and federal
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The answer depends on a few factors:

What is your filing status?
How much other income do you have for the year?
What amount of deductions do you expect to have? 2011 Form 1040, Line 40 (Itemize or use the Standard Deduction)

Let me know the items above.
Customer: replied 4 years ago.

married and 1 150,000.00 12,000.00 itemized

Hello and thank you for using Just Answer,

Different expert, I do not know what happened the expert that asked the questions.

Your federal taxes are estimated to be $132,450. Your remaining amount after the withholding of $85,000 would be $47,450. If you had any other withholding then subtract that amount out to see the amount due (if any).
The above is based on Married Filing Joint, 1 dependent, and total income $490,000.

Your Ca tax is estimated to be $39,873.52 before any withholding.

Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13316
Experience: 15years with H & R Block. Divisional leader, Instructor
Robin D. and 3 other Tax Specialists are ready to help you
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