financeguy
Junior Member
So I'm a graduate student who hasn't officially started working a real job yet. This summer, I did this gold business thing on my own. Basically, I bought about $50,000 in gold jewelry off eBay and sold it to a company for $55,000. They paid me in cash. I never deposited more than $10,000 into any of my bank accounts at the same time. I'm not sure if the company reported its cash payment to me to the IRS.
Ordinarily, people who only earn $5000 in a given year are not required to file. But since I received such a large sum of cash, will I?
Ordinarily, people who only earn $5000 in a given year are not required to file. But since I received such a large sum of cash, will I?