rjs
Level 15
Level 15

Retirement tax questions

If it's over $10,000 it's still not taxable. Just deposit it in your bank account. The fact that the bank has to report it does not make it taxable.


The purpose of the report is to help the government detect money laundering. They're not likely to bother you about one large deposit. If you split it up to try to avoid the reporting, they might think you're trying to hide something.