Curley143
Dormant account
- Joined
- May 22, 2004
- Location
- Virginia, USA
A good friend needs to collect over 10k in wins from an on-line site and would prefer to place it in the bank here in the US. If he deposits the casino check that (it seems to me) should be a red flag to the IRS if it were to be looking. I would think that he would be better off withdrawing in amounts under $1200 and then cashing and slowly making deposits from the cash. Is my thinking right or is there another way? What are the pros and cons on this?
I certainly would like to hear other thoughts...please!
Thanks
I certainly would like to hear other thoughts...please!
Thanks