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  1. There is no tax issue related to making a bank deposit. But where you got the money determines whether there will be taxes or legal issues.

    For example, if someone gives you $5,000 as a gift, you do not owe any taxes because gifts aren’t taxable. But if you get a $20,000 bonus from your job, you will owe income tax because wages are subject to income tax.

    If the deposit is in cash, there will be forms to fill out if the amount is over $10,000. If the deposit is by check or bank transfer, there are no forms.