AHC Withdrawing

[VTranX]

I'm looking to withdraw about $1,000 using the ACH option. You think it will raise any eyebrows at my bank? What the max I should withdraw at a time without causing any bank problems?

[chunnnn2010]

up to $2500?? i remember that's the maximum amount i could withdraw via ACH at Nine.com before

[VTranX]

up to $2500?? i remember that's the maximum amount i could withdraw via ACH at Nine.com before

the max is $3,000 at bookmaker but that's not the point. I want to know how much i can withdraw with out my bank noticing.

[pete346]

if it is a small bank or credit union they will notice.

[John Dough]

Anything under 3K generally shouldn't be a noticeable amount. Any remotely major bank processes thousands of transactions for low 4-figures weekly. I've been depositing checks around 3K (several much larger in the past) for about a decade and never once had a problem.

It's natural to be paranoid if you're not used to this sort of thing, and I've personally never used ACH, but there's a 99% chance your bank could care less.

[thegreen]

They won't notice and if they do say anything make something up like an investment or employment earnings. I get these all then time amounts from $300-$2000 and have never been questioned.

[SBR Lou]

$1,000 isn't going to raise any eyebrows. Even if you were withdrawing significantly more, I wouldn't be worried about anything other than the IRS should you not intend to pay taxes on your gambling related income.

[VTranX]

$1,000 isn't going to raise any eyebrows. Even if you were withdrawing significantly more, I wouldn't be worried about anything other than the IRS should you not intend to pay taxes on your gambling related income.

What if my gambling losses outweigh my gambling income?

[John Dough]

What if my gambling losses outweigh my gambling income?

You're still supposed to report both (but you can only deduct losses up to the amount of the winnings).

Caveat: I am neither an accountant nor a tax attorney.