Greetings,
If you receive items from family and friends and in return you give them items regardless to the intent for giving in return, is this considered BARTERING or and any kind of TAX REPORTABLE INCOME?
One of the Examples: If someone has for years been providing meals, desserts, etc. when visiting, and in return I provide desserts or and treats, is this Bartering, even if my intent is not to be running a business?
There are other examples as well.
Some people do not count it as Bartering or and Taxable income, but I don't know if this is Lawfully correct with IRS and even the State I live in and the State I visited.
