How much cash am I allowed to keep in my house?

Question

I know it is illegal to keep large sums of money in your home (even if reported to the irs). But how much can I keep without getting drama? Is there a specific amount?

Answer 1

It is not illegal to keep any amount of cash in your house. There are some problems with it though. IF it is stolen then the insurance that you have wont cover it all. The other thing is that someone that sees it might think that you got it from illegal activity and they might report it and then you have a mess trying to prove that it is yours and it was not the result of illegal activity.

Answer 2

What fairytale book are your reading?  You can keep as much as you want.  Why would you keep large sums of money at home anyway?  You run the risk of your house burning down and possible theft.  Plus you are not making any interest on your money either.  This is not a wise choce on your part.

Answer 3

The IRS does not allow you to keep large amounts of cash in your home. They don't like money they can't track and charge you tax on. The government likes to know exactly how much you make, how much you have in your account and how much you spend. Nosey b******s.

Answer 4

There is no specific amount.

Keep as much as you feel comfortable with.

But whatever you do say absolutely nothing to no one about keeping cash at your house. Loose Lips Sink Ships.

Answer 5

$911,255,439.26 and not a cent more or they'll arrest you.

Answer 6

Kevin gave the current figure.  It is, as is everything except the @#%* AMT, indexed for inflation.

Answer 7

You are "allowed" to keep as much as you want, but any amount over $10,000 in cash is legally deemed sufficient grounds for temporary seizure/investigation by law enforcement.

Think about it, there are no sane or legal reasons to have that much in cash on hand!