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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’ve been tasked with cleaning out my mother‘s things and found just over $6000 in cash. I’d like to deposit it into my bank account. Is there anything I need to do to treat this differently than a smaller deposit?[/quote] But why? Also, look up "structuring" related to bank deposits. Any amount that a teller finds "suspicious" will garner a report to the IRS. There is no 10K min limit like some older people still think. That went away over 20 years ago. It's any amount now. [/quote] Let them report. So what? It's not like cash deposits are illegal. [/quote] Sure. If you have nothing to hide, why would you care about privacy? Right?[/quote] Huh? What are you talking about? The bank, it's auditors, and anyone else who has legal access to the bank's data already has access to your information at the bank.. What additional privacy is compromised by the bank reporting this $6K deposit to the IRS?[/quote] You don’t want the IRS’s attention called to you, even if your finances and returns are 100% aboveboard. If they question you, you won’t be compensated for the time and expense of proving you’ve done nothing wrong. [/quote]
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