Group Claim Form?

Reply #6

ambelamba — Mon, 11 May 2009 03:26:55 GMT

I checked a book titled Lottery-Winners' Guide. It says some states allow you to share some percentage with others.

Reply #5

Stack47 — Wed, 22 Apr 2009 02:04:08 GMT

It depends on which state lottery. You can split the jackpot in half with Mom or Dad or all three of you will get 1/3, but I know of no state lottery that will allow you to portion it out in unequal amounts.

Reply #4

BobP — Tue, 21 Apr 2009 21:45:41 GMT

Maybe because not every state has a group claim or pool form and those that do vary including having to fill it out and file it before playing, and everyone shares evenly. Check with your lottery web site, call the office, if you get someone that only thinks they know the answer ask for someone who actually knows and get a copy.

BobP

The rules of your village are not the laws of the universe. Robert Heinlein

Reply #3

grandpajohn — Tue, 21 Apr 2009 04:48:55 GMT

I think you may need to split it by how many people you plan on giving money too and they pay there share of taxes.What i have seen in the past is most states will write more than one check but at a even amount.Now if you wanted to give money to family members then your have to deal with gift tax.

Reply #2

RJOh — Mon, 20 Apr 2009 22:06:09 GMT

When I mentioned about sharing the prize, some of you guys didn't seem to know about the form. It's kinda interesting.

Why would that surprise you? I doubt if more than a couple of the members has ever had a chance to share a lottery jackpot, either one that they won or one someone else won and wanted to share it with them .

Reply #1

djklaugh — Mon, 20 Apr 2009 21:42:57 GMT

No gift tax? Well true, but each recipient would be responsible for taxes owed on their percentage of the jackpot.

Group Claim Form?

ambelamba — Mon, 20 Apr 2009 04:53:50 GMT

I read about this from a lottery guide book. What do you guys know about this? Seems like the form allows me to share the prize with my family members without worrying about the gift tax. Basically, you add your family members as the co-claimants, then assign percentages of the winning to them. (ie: me-60%, dad-10%, mom-10%...etc)

When I mentioned about sharing the prize, some of you guys didn't seem to know about the form. It's kinda interesting.