Quote:
Originally Posted by vailpass
You'd spend a large amount in gift taxes that way...
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That's why you pick a family member to split the ticket with before claiming it.
Like you hear how a group of people won together
If it was a big amount won then i would probably say my father and sister won the lottery with me. Save gifting tax issues later by splitting the initial prize.
Then i know my immediate family is taken care of and don't tell anyone else.