LogFAQs > #952722981

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Topic	During reno, you find $100k in cash. Do you have to pay taxes on this?
Payzmaykr 04/11/21 6:12:21 PM #25:	Technically, yes. The smart thing to do would be to never report it or put it in the bank and use it to randomly pay for smaller things like groceries, clothes, gas, etc. If you tried to buy something big with it, then the IRS would definitely want to know how you suddenly had the money (unless you were already rich). <cite>Payzmaykr posted [p:952722981] in During ren... [t:79400131]...</cite> <quote>Technically, yes. The smart thing to do would be to never report it or put it in the bank and use it to randomly pay for smaller things like groceries, clothes, gas, etc. If you tried to buy something big with it, then the IRS would definitely want to know how you suddenly had the money (unless you were already rich). </quote> ... Copied to Clipboard!
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