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#2179593 - 05/24/18 03:45 PM CTR conundrum
Bec Offline
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Bec
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The Great White North
Here's the scenario

Business A: 14,393 cash brought in by Transactor 1
Business B dba ABC: $2,675 brought in by Transactor 1
Business B dba XYZ: $4,790 brought in by Transactor 2

Business B is organized under Transactor 1's SSN.

So I know I have to report Business A and Business B dba ABC due to both transactions being brought in by Transactor 1. My question is, do I have to bring in Business B dba XYZ by transactor 2? The reason I am thinking it might, is because it is part of Business B which is being reported on. The reason why I don't think it should be is because Transactor 2 and Business B total deposits of cash are both less than $10,000.00.

Any feedback would be appreciated.
Last edited by Bec; 05/24/18 05:29 PM.
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#2179630 - 05/24/18 04:53 PM Re: CTR conundrum Bec
rlcarey Online
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rlcarey
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do I have to bring in Business B dba XYZ by transactor 2?

No - for the reason that you mentioned.
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#2179647 - 05/24/18 05:31 PM Re: CTR conundrum rlcarey
Bec Offline
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Bec
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Thank you RLCarey. So I remembered a little wrinkle and added it to my original post. The Business B is organized under transactor 1's social security number. In your opinion, does that change anything?
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#2179731 - 05/24/18 08:40 PM Re: CTR conundrum Bec
John Burnett Offline
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John Burnett
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Irrelevant. The fact that one of the entities is an ignored entity for IRS purposes has nothing to do with the CTR rules.
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#2179732 - 05/24/18 08:41 PM Re: CTR conundrum Bec
John Burnett Offline
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John Burnett
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This all assumes that the businesses are operated independently of one another.
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