Cody M.

asked • 12/04/17

Will I get flagged by IRS or the bank for too many Deposits/Withdraws

I recently opened a business, I sold some of my personal items to buy bitcoin. I've been putting as much as possible into it. However every few days ill deposit $2k-$3k into the bank but withdraw into my bitcoin wallet. If I deposit again today, it will make 3 deposit and immediate withdrawals that equal to around $12k. I would wait, but the bitcoin price is growing fast and don't want to miss out. There are no single deposits over $10k but would I still get flagged for it? This is my own money, not the businesses. I am worried they are going to think I'm laundering or trying to hide the business money. This is 100% my own money from my own belongings ( even sold my car )

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