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Other financial discussions
Thank you for both answers. I did think as well that it was for 1 deposit that is 10K or more but wanted to confirm.
They were deposits from gifts and/or cash deposit from my line of credit account for cash being immediately available in my checking account.
So if deposits in one cash transaction is 10K or more than I assume IRS will need to ensure thats reported as income and pay tax on it?
Thank you
‎April 18, 2020
1:55 PM