Hi Ladies! This is my very first post on this board Congrats to all the other newlyweds! Its exciting, and crazy! We just got back about a week ago, and are still on Hawaii time! Luckily we are teachers and don't need to get up for work yet. I do have one question. We just opened a joint account, and went to deposit our gifts. I remembered someone on here once posting not to deposit 10K or more at a time for tax reasons. Then when we were at the bank, I got paranoid, and thought it was 5K -- I really couldn't remember and the guy at the bank didn't know, so of course, this is where I always come for answers! Does anybody know about this? Thanks!
jtgarsik
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Re: My first post here! And, of course a question!
not a clue lol but just wanted to say congrats & welcome!
RGV07
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Re: My first post here! And, of course a question!
welcome and congrats! i think they look at deposit that are 5000 or more in cash. do u have 5000 or more in cash or checks? i think they look at more if it in cash.
Rejjie
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Re: My first post here! And, of course a question!
Congrats - that's a high class problem!!! Woo hoo! I have no idea.
MJDoc12
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Re: My first post here! And, of course a question!
any CASH deposit over $9,999 is reported to the IRS
keep your cash deposits under that amount.
CourtandJon
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Re: My first post here! And, of course a question!
sorry I can't help you out- but congrats!!
Mich0621
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Re: My first post here! And, of course a question!
Dunno really. I think it is somewhere between 10-20K, but did want to say Congrats and Welcome!
TJ22908
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Re: My first post here! And, of course a question!
We deposited everything at once i think its only if you have like one check written out for more than $10,000. not sure but we had no problems
Dee0522
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Re: My first post here! And, of course a question!
Posted by MJDoc12
any CASH deposit over $9,999 is reported to the IRS
keep your cash deposits under that amount.
This is correct. Just break up the deposits so none of them are over this amount. We did 2 separate ones when we went.
MsPotterhead
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Re: My first post here! And, of course a question!
Thank you for the warm welcome and the advice! We're not soo fancy, its just about that amount, and definitely not all cash. We deposited just under 5K because I wasn't sure, so now we'll do the rest. Thank you!
Snick n Nick
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Re: My first post here! And, of course a question!
We deposited it all at once, but it was definitely under that amount in cash, as we got mostly checks
