Proof of income regarding a check

Hey guys, I am depositing bank checks on my account for a friend of mine who is illegally working and he's paying me 10% for that. But now my bank is asking me about the source of those checks they wanna know where it comes from. What can I tell them ?? Can I just tell them that I lent money to my friend and that he is now giving my money back ?

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Why not just say they are payment for services you provide as a side job.

Because he has to report that as income on his taxes or risk an IRS audit

Because if I say so I will have to pay tax since it's an source of income.

How big of an amount ?

Two questions:
1. Why would the bank ask? Just tell them its from your job
2. Why are you jewing 10% of your friends hard earned money? You are a shitty friend. Either help him out or not but don't fucking tax him 10%

Between $1400-1700 every month

Just tell them you're running an mmorpg and those are membership checks sent by players

1. Maybe because of their anti-money laundering laws.

2. He's actually the one who offered me 10% to converting his checks into cash money.

say you have roomies and they pay you rent

But the checks come from the same society not from different persons :/

This pretty much, what a jew

it's not just helping him out faggot. op puts himself at risk by depositing $1400-$1700 a month into his own bank account.

the bank will ask because its undeclared money and the gumment wants their cut

Your bank is being an asshole.

businessinsider.com/the-irs-can-seize-your-cash-through-forfeiture-2014-10

And you're not even depositing cash, you're depositing checks, which makes them a double asshole.

You're not doing anything illegal OP. Get a new bank and tell this one ot fuck off. Not even kidding.

Who pays for illegal jobs with checks...

I will still have to pay taxes on that.

>the bank will ask because its undeclared money

It's only undeclared if it's CASH and it's over $10,000.

Jesus christ.........did all of you just get out into the real world a few days ago?

This is all Life-101 stuff.

I think this ones the winner. But OP, tell your friend to buy you a drink - don't accept his money. Sounds like low pay anyway so don't make it worse

If you have the liquidity, accept the checks and don't cash them immediately, or spread them across multiple people.

No you wouldn't have to pay taxes on roommate rent.

The autism in this thread is out of control.

So if I deposit checks I don't need to declare them to the IRS ?

Don't listen to him, 10.000 is a minimum by which the bank has to declare it, but the IRS will actively check the volume of money in and out.

Worse yet, high volume - low yoy change bank accounts are specially investigated for anti terrorism funding now, aside from the obvious money laundering.