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Financial Planning / Tax Strategies


Subject:  Re: "Carry Tax" Date:  7/17/2005  11:44 PM
Author:  Wradical Number:  80070 of 123001

What are the tax implications of walking into a bank and trying to deposit, oh, say 40k in cash that your recently passed away grandfather stashed under the floor?
In theory, none. But that assumes you can prove the source of the money, and that it was an inheritance.

The bank will require the completion of a CTR (Cash transaction report, form 8300), for a cash tra