Re:Ask HN: Why doesn't somebody buy every combination of the...
by jeffmould on Sunday January 10, 2016 @12:52PM
(#10876228)
First and foremost, it would take more money to buy all the combinations than the payout. Also, while $1.3 Billion sounds like a great big number, when you consider the taxes (even with a good tax attorney you are going to pay a substantial tax on that number), and whether you would take that as a lump sum or annuity, other factors come into play.
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Re:Ask HN: Why doesn't somebody buy every combination of the...
by toomuchtodo on Sunday January 10, 2016 @02:48PM
(#10876830)
How much in losses can you write off from the losing tickets against your winnings?
Re:Ask HN: Why doesn't somebody buy every combination of the...
by loumf on Sunday January 10, 2016 @03:20PM
(#10876998)
At that level, probably none:
http://www.fitz-cpa.com/gambling.aspx#GM7
Once you are in AMT territory, you lose the deduction.