Reply To: Bartering

  • Redcap

    July 31, 2023 at 3:43 pm

    She’s good! The IRS has been asking for reporting of barter for ages. But isn’t barter is the same as purchase? How do they classify it as needing to be reported? I am not required to report items I trade for using dollars which are my hours of labor that has been taxed (and which is also taxed dozens of times more), but I am required to report items I trade for using hours of my labor (skilled work OR fruits of my labor) that has NOT been taxed. And that’s the difference according to them. They want to tax your every move. If things get really weird, just don’t barter. GIVE. If you never say the words barter or exchange or payment, you’re in the clear. “I would like to give you an evening of baby-sitting.” “Thank you so much. One day next week, I would like to give you a nice looking front lawn.” “Aren’t you lovely!” It’s a technicality. But it can’t be taxed. Yet.