Skip to main content
Level 3
Jan 19, 2024 4:52 PM UTC

FORM 8300

I am confused the filing requirement of the recipient. If a home jewelry business sale his products to the relatives and neighbors totaling $12,000 in cash in a year from multiples customers and each customers payment does not exceeded over 1,000, does this business need to file 8300?   

This topic has been closed for replies.

2 replies

IRonMaN
Level 15
Jan 19, 2024 5:48 PM UTC

No

Slava Ukraini!
Intuit Community Champion
Jan 31, 2024 2:27 PM UTC

This is from the instructions for form 8300. "Generally, if you're in a trade or business and receive more than $10,000 in cash in a single transaction or in related transactions, you must file Form 8300".

here is link: https://www.irs.gov/businesses/small-businesses-self-employed/form-8300-and-reporting-cash-payments-of-over-10000.

Also see: https://www.irs.gov/businesses/small-businesses-self-employed/irs-form-8300-reference-guide#typeofpaymentstoreport