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Do PowerBall players have to choose between the cash or annuity option before buying the ticket?

April 26, 2017Annuity buying cash option PLAYERS Powerball

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Do PowerBall players have to choose between the cash or annuity option before buying the ticket?

1 Answer

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No, you may choose cash or annuity up to 60 days after claiming a jackpot. Internal Revenue Service rules govern this issue. At one time, the annuity or cash option was required at the time a ticket was purchased. After the enactment of Internal Revenue Code section 451h, a player now may switch from annuity to cash or vice versa – within 60 days of claiming a jackpot.