If you claimed an Iowa Lottery prize of more than $600 in calendar year 2020, check your mailbox in the next week or so for a form we're sending that you’ll need as you file your income taxes.
The document for most winners is called the W-2G form and it lists the total prize amount as well as any federal and state withholdings from your prize. (Lottery winners who are not U.S. citizens receive a document called Form 1042S.)
If you claimed multiple Iowa Lottery prizes of more than $600 in 2020, you’ll receive multiple forms from us, one for each prize claimed. (And congratulations on your wins, by the way!)
We’re required to mail all W-2G forms by Jan. 31, and they are being printed and mailed this week. In the image I included with this blog entry, you can see the form itself, so be on the lookout for it if you're expecting one from us!
If you think you should have received a tax form from us for calendar year 2020 and you've moved since you claimed your prize, please let us know your new address as soon as possible, or your form may end up at your old address. You can call the Iowa Lottery at 515-725-7900 or email us at [email protected].
Be sure to include your name, old address, new address, and telephone number in case we need to contact you.
Hi, Ed. Really relevant conversation. To clarify one point, lottery tickets in Iowa are not subject to the sales tax, so that is not involved in the purchase of our product here.
Posted by: Mary Neubauer | January 29, 2021 at 10:15 AM
Lottery winnings should not be taxed. This is not earned income, it is winnings. This is double taxation. We pay sales tax when we purchase a ticket. It's time to stop double taxing for lottery and gaming winnings.
Posted by: Ed Pancrazio | January 29, 2021 at 09:55 AM