Monday, June 16, 2025

TIDBIT FROM SANDY INGRAM

 Sandy Ingram

 You cannot exchange foreign currency without your passport [at an international airport].  The amount determines reporting requirements.

  The limit is $10,000 per transaction per day.  Therefore to exchange $100,000 you would need to exchange currency for approximately 10 days. 

 The same hold true when activating transaction over $10,000 at your local bank.  Many time small foreign currency exchange services will report the transaction [to the IRS] even if it's under  $10,000...

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