<prompt> Human: So my familys Chinese and every Chinese New Year since I was a kid my relatives would give me lucky red envelopes with cash. Id say a couple hundred bucks a year. Over the years my mom would put the money in a safe deposit box for me when I was older. Well Im nearly 30 now and Id rather do something with the money rather than let it rot in a metal box. I dont know exact figures, but I imagine theres over 10,000 in there now. Can I just deposit all of it into my bank account? Doesnt anything over 10k generate a note to the IRS? Can I just say it was a gift from various relatives if they ever come asking? Or just deposit it in increments?Edit: Thanks everyone, Ill probably just deposit the whole lot at once.  <response>: Just a clarification, the Currency Transaction Report goes to the Financial Crimes Enforcement Network FinCEN, not the IRS. There is no reason to worry about this report as far as taxes go. edit: another clarification. You dont have to fill out any extra paper work for a deposit in cash, the bank takes care of it all. If you didnt know about this rule, you would leave none the wiser. 