topic IRS Form 8300 is Report of Cash Payments Over $10,000 Rec... in Deductions & credits

IRS Form 8300 after the purchase of a vehicle

Anthonymcomstock — Fri, 07 Jun 2019 22:01:03 GMT

Hello,

In early December I sold my old car for $15,000 ($2,000 less than what I bought it for if that's relevant) and I purchased a different car that day for $13,000 cash from a dealership. About two weeks later I received a IRS form 8300 from them and a notice that it was reported to the IRS. My question is how does this effect my taxes? From what I've read, I don't have to report this on my annual taxes.

Thank you for your time,

Anthony

IRS Form 8300 is Report of Cash Payments Over $10,000 Rec...

SweetieJean — Fri, 07 Jun 2019 22:01:05 GMT

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.

You do not report it on your tax return.

Thank you!

Anthonymcomstock — Fri, 07 Jun 2019 22:01:07 GMT

Thank you!