“Jeopardy!” star to pay over $1 million in taxes

James Holzhauer | Photo Source: Jeopardy! / YouTube / MGN

“Jeopardy!” phenom James Holzhauer made headlines for his near-record winning streak on the show, but he won't be taking all of his winnings home.

Holzhauer will have to pay more than $1 million in taxes, according to NBC News.

Holzhauer lives in Nevada, but “Jeopardy!” was filmed in California, which means he’ll have to pay close to $1.1 million in state taxes.

In addition, all winnings of “Jeopardy!” are considered ordinary income, which is taxed up to 37 percent by the IRS.

Between federal and California state taxes, Holzhauer takes home about $1.29 million of the $2,464,216 he won on the show.

Holzhauer, a professional gambler by trade, came just short of beating Ken Jennings’ record of most money earned during regular season play. Jennings won $2,520,700 in 2004.