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Topic	During reno, you find $100k in cash. Do you have to pay taxes on this?
Smashingpmkns 04/11/21 5:38:04 PM #22:	IdiotMachine posted... 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. $10k a week. And they don't report it to the IRS they add a flag to your account in case you are under investigation by the IRS and the bank is questioned about your account. There's no reason you'd need to deposit more than even $5k a week if you came into this much money at once. --- https://imgur.com/x04tPRZ https://imgur.com/t7T392I <cite>Smashingpmkns posted [p:952721919] in During ren... [t:79400131]...</cite> <quote>IdiotMachine posted...</cite> <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. </quote> $10k a week. And they don't report it to the IRS they add a flag to your account in case you are under investigation by the IRS and the bank is questioned about your account. There's no reason you'd need to deposit more than even $5k a week if you came into this much money at once. --- https://imgur.com/x04tPRZ https://imgur.com/t7T392I</quote> ... Copied to Clipboard!
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