Bank deposits and IRS reporting

[brokeno]

Waiting for Bill and Hillarys response.

[Take Dead Aim]

we just sold my wife's car for 8k. she mentioned that we shouldn't deposit it all at one time because the IRS will know about it. is there such a thing that banks report large deposits to the IRS. if so what is the limit to where banks will NOT report it to the IRS?

You do realize they can see your account anytime they want and when they do they will see any and all deposits. You put it in the bank they will know. $5.80 check or $19,460 check. They will see.

[wal1809]

Banks really only worry about anything over $10k. Our old deer lease made us pay cash. When you go to get $12k cash out, all the managers come ask questions what its for.

That's about the time I tell them them Nunyaeffinbidness

[12RingKing]

I don’t think it’s the IRS they are reporting to. I believe it’s the Department of Homeland Security.

That’s what the bank told me last time I got a mortgage.