[ifinnegan]

“ she opted for a one-time lump sum payout of $640,000.”

Is that taking all taxes out of the million or is she taxed on this 640?

[Neanderthal]

"Is that taking all taxes out of the million or is she taxed on this 640?"

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That $640k is pre-tax. She will be taxed on it.

[V_TWIN]

Good question...I have no idea

[glorgau]

Hmmm, its kinda late in the year. I’d bet that if she arranged things and maybe cashed it next year she could have saved a bunch of taxes.

But, if you’re buying scratchers it’s likely you’re not a big financial planning type.

[Larry Lucido]

At first I figured it represented after-tax distribution. But really it represents present value of a long-term distribution and likely would NOT include tax withholdings. That means she will be taxed on the $640,000 distribution at that income level. No idea how much that is. Harris would likely take it all.

[mfish13]

She will be able to keep roughly 380,000. Consult with your accountant.