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Path: utzoo!watmath!clyde!cbosgd!ihnp4!ihlpm!rcj1
From: rcj1@ihlpm.UUCP (rj)
Newsgroups: net.taxes
Subject: RE: taxes on lottery ticket purchaces
Message-ID: <641@ihlpm.UUCP>
Date: Thu, 2-Jan-86 15:05:05 EST
Article-I.D.: ihlpm.641
Posted: Thu Jan  2 15:05:05 1986
Date-Received: Fri, 3-Jan-86 02:08:18 EST
Distribution: net
Organization: AT&T Bell Laboratories
Lines: 13


	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