Do I need to file form 8300?

Forum|Forum|4 years ago
February 26, 2022
2 replies
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We sold our truck in 2021 for $15,000, which represented a loss of about $15,000. The cash was deposited in a checking account.

Do we need to file form 8300?

Best answer by ColeenD3

Who Must File

Generally, if you're in a trade or business and receive more than $10,000 in cash in a single transaction or in related transactions, you must file Form 8300.

A "person" who must file Form 8300 includes an individual, company, corporation, partnership, association, trust or estate.

You must file Form 8300 with the IRS if any part of the transaction occurs within any of the 50 states, the District of Columbia or a U.S. possession or territory (American Samoa, The Commonwealth of the Northern Mariana Islands, Guam, Puerto Rico and the U.S. Virgin Islands).

Bsch4477

Level 15

Not unless you are in the business of selling cars.

ColeenD3Answer

Level 15

Who Must File

Generally, if you're in a trade or business and receive more than $10,000 in cash in a single transaction or in related transactions, you must file Form 8300.

A "person" who must file Form 8300 includes an individual, company, corporation, partnership, association, trust or estate.