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