For Canadians doing a U.S. tax return you owe the IRS %30 of your net winnings. So on a huge lottery win you wouldn't be getting much back unless you were playing some really big stakes and losing some really big money. The one thing to realize is that if you had one of those huge wins, any losses would come with a %30 discount. If I ever won a monster like that I would be playing some very high denomination VP for the rest of that year.
Regards
From: "nightoftheiguana2000@yahoo.com [vpFREE]" <vpFREE@yahoogroups.com>
To: vpFREE@yahoogroups.com
Sent: Thursday, October 25, 2018 3:29 PM
Subject: [vpFREE] Re: Mega Million, great play!!! For the government. Not VP
gamb00ler wrote: "The payer of any substantial win to a Canadian would withold 30% of the prize."
That's just a withholding, you can apply to get it back.
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Posted by: Albert Pearson <ehpee@rogers.com>
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