How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Robin D. Your Own Question
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13328
Experience:  15years with H & R Block. Divisional leader, Instructor
14155347
Type Your Tax Question Here...
Robin D. is online now
A new question is answered every 9 seconds

I would like to know the value of a euro and the tax rate on

Customer Question

I would like to know the value of a euro and the tax rate on lottery winnings.
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: I received a letter from Spain that says I've won 5 million euros,
JA: Is there anything else the Accountant should be aware of?
Customer: I don't think so.
Submitted: 8 days ago.
Category: Tax
Expert:  Robin D. replied 8 days ago.

Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

Expert:  Robin D. replied 8 days ago.

1 EUR =1.05914USD

I need to caution you though, unless you entered a contest or lottery in Spain, this letter is most likely a SCAM.

Numerous email and postal scams are circulating the world, referring to lotteries in Spain and claiming that the recipient of the letter has won a large sum of money. Then they ask the person to pay the tax.

That is not how it would work. The true lottery in Spain is not taxable.

http://www.idealspain.com/Pages/Information/lotterySCAMS.htm