☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Returning Member
posted Feb 22, 2020 2:55:26 PM

Form 8300

I purchased a vehicle and put 10,000 cash from home savings and dealer sent form 8300 to The IRS.  What does The IRS do with these forms.  Can it trigger an audit.  Do they match them up with individual returns when I sent my return in.  Is it a audit flag.

0 3 846
3 Replies
Expert Alumni
Feb 23, 2020 1:24:42 PM

No it is not an audit flag.  IRS Form 8300 is Report of Cash Payments Over $10,000 Received in a Trade or Business.  It is used to help prevent money laundering.  There is nothing for you to do with the form.  Keep for your record of the payment.  

Level 1
Mar 9, 2020 5:43:05 PM

Thank you so much.  I appreciate Intuit Turbo for this worthy service

New Member
Mar 31, 2022 5:09:07 PM

Hi, thanks for the explanation. So when I received a form from a business saying that they already filed a form 8300, there is nothing I need to do right?Thanks!