What if a student won the powerball? Taxes?
I am a student, and in the USA, full time college students are given pretty generous tax breaks. Now what if a college student hit the powerball? If they were to take the lump sum, would they be responsible for much less tax than someone who is not a full time college student?
It doesn’t matter what your status as a student is — you pay taxes on those things and if you take a lump sum, you still have to pay taxes. IRS won’t give tax breaks to lottery winners.
Frankly, if I ever won Powerball, I’d not be a student anymore — I’d quit school and start living.