Using the Community tax support if I don't decide to file with Turbo Tax this year.

[fellynbal]

Greetings,
If I do not end up using Turbo Tax this time to file my taxes and pay for your service this year, am I allowed to find tax information on your Community and post questions also? I did view some tax information from your site for tax assistance, but I have not paid for any service this year.

Please a TURBO TAX manager or someone that works for Turbo tax to answer this.

[DianeW777]

Yes, you can ask questions on the Community for your tax return. We will try to answer your questions and help clear any confusion.

Thank you for your inquiry.

[fellynbal]

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?

[AmyC]

Topic no. 420, Bartering income states: "doesn't include arrangements that provide solely for the informal exchange of similar services " and "You must include in gross income in the year of receipt the fair market value of goods or services received from bartering."

For your example: If you run a business, the cost to make the cake is part of your business expenses the ingredients are part of your return already. You just add the income for the value of items received.

[fellynbal]

Thank you Amy!

I read on IRS site on the lines if it is not regular and continued, but even though for example it may of been any chance of Bartering, and if it may of happened sometimes 4 or 5 times a year, not for sure but maybe partly was continued.   Not sure how to judge it.  I used a different software this year.  But I did file on my tax returns under Schedule C possibly I over reported the amounts.  Of course I can go back and Amend the returns for IRS and the State, but if there is a chance that I should have reported it would make me feel bad if I don't  leave it alone.  If there may be any mistakes regardless to what it may be, I don't know if IRS or NJ Taxation will notify me on their own, other than I did send an SS-8 to IRS today, but that was about a different tax topic mainly at least, and if I referred to Bartering at all it was indirectly.