TaxMamas TaxQuips: Tax Quips

TaxMamas TaxQuips: Tax Quips


Won Lottery

October 28, 2010

Today TaxMama hears from Mike from Chicago, Il who is excited. “I won the lottery and paid taxes on the winnings. I want to give my mother $1 million out of my after tax winnings. Will she have to pay taxes on the $1 million again? Or just on any intere