Bartering

https://falconcpa.com/wp-content/themes/osmosis/images/empty/thumbnail.jpg 150 150 speakeasy speakeasy https://secure.gravatar.com/avatar/1ee8bd3c861e30321e8b5e706cf7b0e5?s=96&d=mm&r=g November 4, 2015 October 14, 2018

By: speakeasy

November 4, 2015

Question: Does bartering for goods or services create income? Answer: Yes. Bartering for goods or services creates income to the extent of the fair value of the item received. For example, let’s say an auto mechanic exchanges some auto repair work for free rent of an apartment. If the apartment rental value was $800, that…