LogFAQs > #952721774

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Topic	During reno, you find $100k in cash. Do you have to pay taxes on this?
IdiotMachine 04/11/21 5:33:41 PM #20:	Smashingpmkns posted... It would be incredibly easy to deposit all of that money into your account over the course of a few dozen weeks without setting off any flags too. Reporting it would be foolish unless you absolutely do not want a free $100k. Not really. Regularly depositing large amounts of cash compels your bank to report it. Any deposit over $10k also compels your bank to report to the federal government as well. --- https://imgur.com/XNEdLrJ <cite>IdiotMachine posted [p:952721774] in During ren... [t:79400131]...</cite> <quote>Smashingpmkns posted... </cite> <quote>It would be incredibly easy to deposit all of that money into your account over the course of a few dozen weeks without setting off any flags too. Reporting it would be foolish unless you absolutely do not want a free $100k.</quote>Not really. Regularly depositing large amounts of cash compels your bank to report it. Any deposit over $10k also compels your bank to report to the federal government as well. --- https://imgur.com/XNEdLrJ</quote> ... Copied to Clipboard!
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