If i transfer more than $10k amount from brokerage to a personal bank, do i need to file IRS Form 8300? Do i also need to report to my bank about the transfer before i actually transfer from my brokerage?
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Transferring money from a personal brokerage account (not a retirement account) to your bank account is not a taxable event. You do not report it on your tax return. There is no tax form to file and no report is needed to be made to your bank.
Transferring money from a personal brokerage account (not a retirement account) to your bank account is not a taxable event. You do not report it on your tax return. There is no tax form to file and no report is needed to be made to your bank.
Thank you for the clarification.
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