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btaclark9607
April 15, 2025
Question

I cashed a lottery ticket in the amount of $1500 and was taken for debt and I paid 2022 irs bill of $2300 in 2024. Does this count towards the repayment credit in 2024?

  • April 15, 2025
  • 1 reply
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1 reply

V
Vanessa A
April 15, 2025

If they confiscated your $1,500 for back taxes, then yes, your tax debt would decrease.

This is not something that you would get a credit for on your 2024 taxes, however, you would need to enter it as other income to be taxed even though you didn't actually receive it, it is still taxable income.

 

 To enter it without a W2-G select the following:

  1. Federal
  2. Income and Expenses
  3. Scroll down to Less Common Income and click Show More
  4. Start next to Miscellaneous Income
  5. Start next to Other Reportable Income
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