- Centurion Member
- Posts: 188
- Joined: Tue Jan 10, 2012 7:11 pm
- Location: New York, NY
darobin77 wrote:I believe IRS tracks deposits >5k
Banks are required to report deposits of $10K or more to the IRS. Or, if you deposit $4K and an hour later deposit 6K, the bank will still report it.
However, to avoid this sort of thing, wire transfers are the way to go, as they are not reported to the IRS.
Cards and Credit lines Acquired:
Escape by Discover (7.75K), Barclay Holland America Visa (7K), Macy's store card (7K), Bloomingdale's store card (2.6K), Citi Custom Credit Line (3.5K), PayPal Smart Connect credit line (2.7K), Chase Freedom Visa (5K), Chase United MileagePlus Visa (5K), Chase Sapphire Preferred Visa (6K), Amazon store card (2.2K), Lord & Taylor store card (550), Nordstrom store card (1500), Gold Delta SkyMiles from American Express (3K), Discover It (6.5K), PayPal Credit Line (1K).