WANT TO WIN A HOUSE FOR $50!!??

**granuale** · November 1st, 2009, 12:57 AM

Originally Posted by -JD-

One thing to consider, I believe that the value of the winnings (less ticket cost) would be taxable as gambling winnings.

Big time. You can add another $28,000.00 for buyers costs when the tax man comes 'round.

**nlcrsn** · November 1st, 2009, 02:29 AM

Yea I hope this works for you but I'll bet someone in the State will stop it because the winning ticket only paid $50 this is going to mess with the Gov't revenue and they dont play nice with that kind of thing!

**Strapped** · November 1st, 2009, 03:19 AM

Originally Posted by nlcrsn

Yea I hope this works for you but I'll bet someone in the State will stop it because the winning ticket only paid $50 this is going to mess with the Gov't revenue and they dont play nice with that kind of thing!

Just read this, so now your PM makes sense. lol