Cash. And Taxes.
November 16, 2011 6:26 PM Subscribe
A friend owes me $8k to $12k. What tax laws do I need to know?
posted by glaucon to Work & Money (7 answers total) 2 users marked this as a favorite
Because it didn't matter, I paid rent for a majority of our time while living together. I didn't cash a few checks from my friend, with their knowledge, so the total is between $8k and $12k (to be determined).
There's no animosity, and we just basically need to settle up. What do I need to think about with regards to such a large sum of money? Is there a tax penalty with a certain amount? What do I need to think about here?