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I made a $10,000 cash down payment for car I bought 2 weeks ago. The dealer send me copy of form 8300 they filled for that transaction.

What happened next?

*Mod Note: Form 8300 is a form to "Report.. Cash Payments over $10,000 Received in A Trade or Business" to the IRS.

1 Answer 1

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https://www.communitytax.com/tax-form/form-8300/

Form 8300 is a document that must be filed with the IRS when an individual or business receives a cash payment over $10,000.

The dealership received that much cash from you, so they filed the form with the IRS. It's to prevent money laundering.

If you're not a criminal with lots of cash on hand from your illegal earnings, then you have nothing to worry about.

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