Tax Forms For Lottery Winnings

When you win a prize of more than $600 in an Iowa Lottery game, the lottery sends to you a form that you will need to use to file your taxes for that calendar year. The document is called a W-2G form and it lists the gross amount you have won in lottery prizes during the year as well as any federal and state taxes that were withheld from those winnings.

As you can imagine, with the millions of winners that the lottery has each year, it takes some time to process all of those forms and get them ready to send out. The Iowa Lottery begins to review the records of its winners and prepare the documents as soon as each calendar year ends.

The forms must be mailed by Jan. 31 of the new year and the lottery always meets that deadline. We try to have the forms processed before then if possible, but they are always mailed out no later than Jan. 31.