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Do you have to show on your tax return if you transfer a huge amount using the balance transfer check from a credit card into your checking account? |
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Answer
That is not counted as income, it is debt. You are not being paid for working or asset liquidation, etc. You have to pay back the amount plus fees and interest. So it cannot be classified as income.
First answer by Jason. Last edit by Jason. Question popularity: 44 [recommend question]
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