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Get your taxes done using TurboTax
Thank you.
It is too expensive to use your service. I'm using a different company software, but your software may be somewhat better.
What happens if I received some items in previous years, but gave item(s) in return this year, how would that be reported if BARTERING income? Or in general vise versa. As well as, let's say I received in several other years cooked meals etc., but in the past couple of years or so I would make some dessert(s) in return? Because your supposed to report income in the year you received it, but not sure if that is the case if maybe bartering.
Example I baked a cake price value with my labor and ingredients maybe $35.00, do I deduct that from the meals that were valued at $300.00? Or is it legal to just report what I received and not what I gave?