$21000 reportable

[freedom]

If I get the jackpot paid in one lump sum of $21000 by wire transfer to my bank, this would be reportable and therefore???? taxable???? Thanks for any information.

 

[judyb57]

I do believe so as usually the banks have to report deposits over $10,000. (Of course don't take my word, lol. Only what I have heard!)

 

[Spin2Win]

Yes, I believe it is both reportable and taxable and for the reasons Judy mentions .... the banks have an obligation to report it.

 

[iataz]

I wouldn't get it sent in one lump sum that's for sure..

Do you have Netspend, Wired Plastic, Quicktender??

if so I would sent it to one of them and then draw it out a little bit at a time