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vexxine
Level 1

Transferring money from personal brokerage account to a personal US bank account

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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MinhT1
Expert Alumni

Transferring money from personal brokerage account to a personal US bank account

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.

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2 Replies
MinhT1
Expert Alumni

Transferring money from personal brokerage account to a personal US bank account

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.

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

View solution in original post

vexxine
Level 1

Transferring money from personal brokerage account to a personal US bank account

Thank you for the clarification. 

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