topic Re: What is considered Bartering in Get your taxes done using TurboTax

What is considered Bartering

fellynbal — Tue, 15 Apr 2025 05:03:54 GMT

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.

Re: What is considered Bartering

AnnetteB6 — Tue, 15 Apr 2025 14:20:01 GMT

The situation you described would not be considered to be bartering in a taxable income sense.

If you were in the business of selling desserts and you agreed to provide a dessert in exchange for a service provided by another person (housekeeping, for example), then that would be a bartering exchange.

Take a look at the following information from the IRS to learn more:

Topic no. 420, Bartering income

Re: What is considered Bartering

fellynbal — Fri, 18 Apr 2025 04:57:23 GMT

Greetings,

Thank you for responding.