Form 8300

lalacozy · ‎February 22, 2020

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.

AlanT222 · ‎February 23, 2020

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.

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DIANTHAM · ‎March 9, 2020

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

Xxl · ‎March 31, 2022

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!

Form 8300

After you file

After you file

After you file