Is it ok to deposit large amount of cash?

[Michael Loza]

So i am getting pre approved for a conventional loan and am short some cash (30k) , i told my lender i have the 30k in cash (which was a gift), then tells me to deposit the cash into my account and told me it shouldnt be an issue as far as the irs is concerned. Is he right or am i too cautious?

[Jim K.]

Nobody has ever given me tens of thousands of dollars as a gift, so I never worry about sourcing my own duffel bags of cash...LOL. must be nice to have problems like that to worry about.