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I purchased a car for $12,000 at the dealership and I recall getting a letter from the IRS and I do not remember where that letter is, help?

Forum|Forum|7 years ago
June 6, 2019
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Sometime last year I bought a car for $12,000 at a dealership and I received a letter from the IRS weeks later. I honestly do not remember what the letter said but I do know I got it because I did made a transaction over $10,000.

I feel like I should but shouldn't be worried about it. I received about $8,900 of that money from AllState because one of their clients totaled my car.

How could I receive another copy of that letter?

Should I be concerned?

Was I suppose to show that letter to my tax person when I file taxes?

I'm totally lost. Help.

Best answer by Critter

If you made a payment in cash for $10K or more the IRS is informed of the transaction by the bank ... that was an informational notice only and has nothing to do with your tax return.

CritterAnswer

Employee

If you made a payment in cash for $10K or more the IRS is informed of the transaction by the bank ... that was an informational notice only and has nothing to do with your tax return.