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To: beaversmom

Participants in any barter exchange should know that the IRS does require barter "income" to be reported, and gets real nasty if they find out after the fact. A few years ago when I was active on a barter exchange I did declare everything and it was a pain; but not nearly the pain it was for some people who didn't and received bills for tens of thousands of dollars of extra income. Barter exchanges in the U.S. are supposed to file forms with the IRS with each member's transaction totals. Hint: the IRS does not accept barter to pay tax bills.


5 posted on 08/11/2005 10:29:42 PM PDT by steve86
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To: BearWash

This isn't barter. You give it away or you get something someone else wants to give away. No trade, no exchange.


6 posted on 08/11/2005 10:31:43 PM PDT by GummyIII (If you have the ability, it's your responsibility." Marine Sgt. John Place, Silver Star recipient)
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