inflightmeal
Level 2 Member
Earlier this year a friend gave me $15k to help me out with something. I'm paying it back to my friend interest free. I deposited the personal check via ATM at my bank. Later, I realized that since it was over $10k the bank may have flagged it. So, I'm thinking just in case I should probably report it to the IRS as a personal loan (with whatever the minimum interest might be) in case the bank reported it to them in some way. Not sure how common this is but I'd rather not get dinged on this. I haven't checked with my accountant but I just wanted to take the temperature here... am I over-thinking this? Or am I on the right path? Thanks