How much cash can you deposit before it is reported to the IRS?

+1 vote
asked Jun 9, 2018 in Other-Finance by Calotvee (320 points)
How much cash can you deposit before it is reported to the IRS?

1 Answer

0 votes
answered Jun 10, 2018 by Minty (132,850 points)
You can deposit any amount of cash under $10,000.00 before the bank is required to complete an 8300 form which is used to inform the IRS of the cash deposit.

If you deposit $10,000.00 or more in cash or checks then the bank is required to report the deposit to the IRS.

Also if you make 2 deposits of $5,000.00 within the same week then the bank will be required to report that deposit to the IRS on the 8300 form.

101,241 questions

97,020 answers

1,290 comments

7,002,375 users

...