turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I purchased a car for $12,000 at the dealership and I recall getting a letter from the IRS and I do not remember where that letter is, help?

Sometime last year I bought a car for $12,000 at a dealership and I received a letter from the IRS weeks later. I honestly do not remember what the letter said but I do know I got it because I did made a transaction over $10,000.

I feel like I should but shouldn't be worried about it. I received about $8,900 of that money from AllState because one of their clients totaled my car.

How could I receive another copy of that letter?

Should I be concerned? 

Was I suppose to show that letter to my tax person when I file taxes?

I'm totally lost. Help.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

I purchased a car for $12,000 at the dealership and I recall getting a letter from the IRS and I do not remember where that letter is, help?

If you made a payment in cash for $10K or more the IRS is informed of the transaction by the bank ... that was an informational notice only and has nothing to do with your tax return.

View solution in original post

1 Reply

I purchased a car for $12,000 at the dealership and I recall getting a letter from the IRS and I do not remember where that letter is, help?

If you made a payment in cash for $10K or more the IRS is informed of the transaction by the bank ... that was an informational notice only and has nothing to do with your tax return.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question