shiprepairwoman
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They must report deposits in cash of over 10K. You don't need to do anything if they feel you are laundering money they can investigate. Weather you did it all at once or over several days they would report it. They aren't required to report under $10K. |
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chcfan
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You're fine up until $10,000. At that amount, they have to report it. I believe it's to make sure that you are taxed on it. They may give you a funny look when you do it, but they can't do anything until you hit that $10,000 dollar mark. |
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stlouiscurt
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There shouldn't be any questions with a deposit of that size. |
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Danny E
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The guy above is right......up to $10,000 in cash, once you exceed that, they will have you fill out forms on the origin of the money. |
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Paco
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Uncle Sam only cares about 10K plus. At that point he wants his cut. |
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sasil85
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No you will be fine. If you made it for 10k or more then yes. You would have to file a CTR. Then the IRS would look at you. |
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kbk823
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Your parent can gift you up to $10K per year, without tax consequences for either of you. |
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kapn
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No your fine........they report at 10K........your legal anyway......your dad can give you 10K a year....... |
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Don't Panic
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Absolutely. They will ask you for a deposit slip. |
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Brian A
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You are fine. The bank is required to report deposits over $10K to the IRS. And your dad can give you up to $12K (not $10K as some others said) a year without any tax implications. |
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HIGH SHAMAN
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I believe to avoid any questions ; that I would deposit it a little at a time ... Like $500 on Monday , $1,000 on Thursday etc ... until it is all in the bank .... |
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What is your problem
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Yes they will. They will flag your account and you may be looked at by the IRS. do some savings bonds. |
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