Will large downpayment cause IRS audit

[Tim Bee]

I am looking to put down about 800K on a tiny 2b/2bth condo in Irvine, CA that is on the market for 1.2M (I know right??).  Anyway, this will be wired from my Bank of America savings account.  This is savings I have accumulated over 3 years.  Will this down payment raise any eyebrows.  IE will it be "6 in the morning, police at my door" or will the IRS want to investigate further? Or do I have nothing to stress on because every day in Irvine there are a multitude of Chinese nationals who come here and drive the market up with their unsourced 100% cash purchases?  Any advice would helpful.

Thanks in advance!

[Ken M.]

Quote from @Tim Bee:

I am looking to put down about 800K on a tiny 2b/2bth condo in Irvine, CA that is on the market for 1.2M (I know right??).  Anyway, this will be wired from my Bank of America savings account.  This is savings I have accumulated over 3 years.  Will this down payment raise any eyebrows.  IE will it be "6 in the morning, police at my door" or will the IRS want to investigate further? Or do I have nothing to stress on because every day in Irvine there are a multitude of Chinese nationals who come here and drive the market up with their unsourced 100% cash purchases?  Any advice would helpful.

Thanks in advance!

Any deposit over $10,000 gets reported to the IRS.

If it's honest money, nothing to worry about. The bank is likely to ask where it came from if it's cash. 

Wiring from one bank to another bank isn't likely to be a problem unless it's from the "Banko de Drug Money" of Columbia. That may raise an eyebrow or two. It could be reported to the IRS if it's a "troubled" bank, or one known for money laundering, that kind of thing. 

But Hunter Biden didn't seem to have any problem with his suspicious bank transfers.