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candyaz
New Member

I purchased a home for $48,000 cash, do I need to file irs form 8300

 
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3 Replies
VictoriaD75
Employee Tax Expert

I purchased a home for $48,000 cash, do I need to file irs form 8300

Generally, any person in a trade or business who receives more than $10,000 in cash in a single transaction or in related transactions must file Form 8300.

 

For example, you may have to file Form 8300 if you are a dealer in jewelry, furniture, boats, aircraft, or automobiles; a pawnbroker; an attorney; a real estate broker; an insurance company; or a travel agency. 

 

However, you do not have to file Form 8300 if the transaction is not related to your trade or business. For example, if you own a jewelry store and sell your personal automobile for more than $10,000 in cash, you would not submit a Form 8300 for that transaction.

 

Form 8300

 

 

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candyaz
New Member

I purchased a home for $48,000 cash, do I need to file irs form 8300

I am not a business person or have a trade, just a regular citizen who bought a home using a cashiers check as full payment.  Does a form 8300 need to be filed?

VictorW9
Expert Alumni

I purchased a home for $48,000 cash, do I need to file irs form 8300

No, you wouldn't have to file form 8300. The person or company receiving the money is the one obligated to file form 8300.

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