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13121
Level 2
March 24, 2022
Question

Apple Cash transfers

  • March 24, 2022
  • 1 reply
  • 1 view

If I send  money from my  debit card into  my  Apple Cash balance account ….( then decide  to transfer  whatever balance is left over to my  bank) is that considered a transaction that’ll I’ll have to report to the IRS  if I go over the $600 limit? 

1 reply

M
MinhT1
Level 15
March 24, 2022

No.

 

Money transfers between your various accounts do not have to be reported on your tax return, whatever their amounts.

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    1
    13121Author
    Level 2
    March 24, 2022

    I have multiple Visa /Mastercard  Gift cards, do those get reported if I send that money into my Apple Cash account

    D
    DianeW777
    Level 15
    March 24, 2022

    No. This is not part of the third party network reporting of  the $600 limit as our awesome Tax Expert @MinhT1 indicated.

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
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