Why bartering affects your tax return

Posted on Sep 18, 2017

Image courtesy of adamr at freedigitalphotos.net

If you exchanged items or services with someone and didn’t use money, you’ve bartered! That means you have to list the difference in fair market value between what you’ve exchanged as either income or a loss on your tax return. Before you establish the value of a bartered item, take a look around at how the item is being valued elsewhere.

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