From the IRS.gov website
IRS Tax Tip 2009-58
Bartering is the trading of one product or service for another. Usually
there is no exchange of cash. Barter may take place on an informal
one-on-one basis between individuals and businesses, or it can take place on
a third party basis through a modern barter exchange company.
Bartering is the most ancient form of commerce. While our ancestors may have
exchanged eggs for corn, today you can barter computer services for auto
Another example of a one-on-one, non-barter exchange transaction is a
plumber doing repair work for a dentist in exchange for dental services. The
fair market value of the goods and services exchanged must be reported as
income by both parties.
. . .
rest on IRS.gov.
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