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I have sent several MGs and WUs to someone over seas an now…

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I have sent several...

I have sent several MGs and WUs to someone over seas an now in the states, he wants to pay me back. What is the best way to receive that money, the amount that can be sent and is there a law stating how much I can receive

Accountant's Assistant: The Accountant will know how to help. Is there anything else important you think the Accountant should know?

I dont think so

Submitted: 9 months ago.Category: Finance
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Answered in 1 minute by:
9/14/2017
Financial Professional: TaxRobin, Senior Advisor replied 9 months ago
TaxRobin
TaxRobin, Senior Advisor
Category: Finance
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Financial Professional: TaxRobin, Senior Advisor replied 9 months ago

It does not matter , for tax purposes, how you receive this back but you must report any interest you are paid. If it is over $10,000 then you should not accept cash as your bank will have to report that when you deposit that mush in cash.

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