What is the maximum amount I can deposit into my bank account without it being taxed or suspicious to the IRS? I have heard that anything under 10k per transaction for a deposit is fine. Or something like one 10k deposit once a month.

Does anyone know anything about this?

 

Here's the deal. What you are referring to is a Currency Transaction Report (CTR). Whenever a total CASH deposit (and it has to be cash and not checks) into a bank account is greater than $10,000 in any one day (either one single deposit or multiple deposits throughout the day), that Bank is required to obtain the information of the person or persons making the deposit. The information requested is typically their name, address, phone number and driver's license or ID number. It is used for the purpose of detecting money laudering activities and acts as a deterrent to individuals, groups, and organizations that would use US Banks to move money around to fund terrorist activities and organized crime in addition to those trying to avoid paying taxes.

If the money you are depositing is legit, then you have nothing to worry about.

 

i bet its still a hassle even if it is legit

 

I deposited two 10k checks in two weeks (1/week) and I had no problems...

 

Remeber, this is only related to depositing CASH in excess of $10K in any one day. Checks have no issues.

 

My bank tell me they have to report all deposits over 10k regardlee of form, checks included.