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Scratch-off lottery tickets
August 30, 2023
Q. We are having a company event for fun and we wanted to give out gift cards and gifts. Are scratch off lotto tickets acceptable?
A.
(Answered by IOFM's third-party tax experts)
In the context of gifts to employees (that are not length-of-service awards and not safety awards) the over-the-counter purchase price of a lottery ticket would be treated the same as the face value of a gift card or the fair market value of a gift of merchandise: included in W-2 reportable income of the…
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