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