Let me start out by saying, I'm obviously not looking for advice on how to evade the bank secrecy act.
So my dad gave me a large gift for my wedding, over $20k. The jokester he is, he thought he would be hilarious to give it to me in cash. Well, now I have way too much cash and its making me nervous.
I was wondering how to make this easiest for myself in regards to my taxes? Will I have tax liability on the gift? If so, how much? Should I wait to deposit until after Jan 1 so I don't have to worry about the tax consequences for 2020?
Thank you!
Submitted December 29, 2020 at 04:53PM by 7itemsorFEWER https://ift.tt/3aQNBKX
