Form 8300

[Eli]

Taxpayer is self employed. His girlfriend is raising the question if Form 8300 is needed if he earns more than $10000 in a year. He does not get anywhere near that amount from one single person or company. He does have way more than 10000 in self-employment income but from many different clients. I have never used this form & from what I read it doesn't appear that he would need it.

What do you think?

Thanks!

Eli

[JRS]

"Who must file. Each person engaged ia trade or business who, in the course of that trade or business, receives more than $10,000 in cash in one transaction or in two or more related transactions, must file Form 8300. Any transactions conducted between a payer (or itsagent) and the recipient in a 24-hour period are related transactions. Transactions are considered related even if they occur over a period of more than 24 hours if the recipient knows, or has reason to know, that each

transaction is one of a series of connected transactions."

To me, the key word in the instructions is cash. That does not appear to be the case in your post.

[Eli]

"Who must file. Each person engaged ia trade or business who, in the course of that trade or business, receives more than $10,000 in cash in one transaction or in two or more related transactions, must file Form 8300. Any transactions conducted between a payer (or itsagent) and the recipient in a 24-hour period are related transactions. Transactions are considered related even if they occur over a period of more than 24 hours if the recipient knows, or has reason to know, that each

transaction is one of a series of connected transactions."

To me, the key word in the instructions is cash. That does not appear to be the case in your post.

Thank you, JRS! I read the form just to make sure, but always feel better to get a 2nd opinion :-)

Eli