Talk of The Villages Florida - View Single Post - Bank to open Checking Account
Thread: Bank to open Checking Account
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Old 03-17-2021, 08:18 AM
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dewilson58 dewilson58 is offline
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Originally Posted by retiredguy123 View Post
True, but, even if the amount is greater than $10,000, I don't think the bank needs to determine where you got the money. They just need to report the transaction to the IRS.
Yes & No............they need to know where the cash came from.......what type of transaction ie: RE transaction, personal services, debt payment, etc.
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