To join in on this discussion, you must first
log in.
Discussion:Barter Income
From TaxAlmanac, A Free Online Resource for Tax Professionals
I'll ask if she's done anything special to receive any reductions. I suppose because she's never received a 1099B (brokers and barter exchanges) she "called it" bartering income?
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
Discussion Forum Index --> Tax Questions --> Barter Income
Solomonite (talk|edits) said: | 23 June 2006 |
| A woman came to me recently. She has an extension on file with the IRS and simply is concerned about her bartering income. This income was produced by quickly buying and selling a series of stocks and bonds by her broker on her behalf. Once I establish basis (it's a mess), it there anything special about reporting the gain/losses? Isn't Sch D used to report my findings? | |
| 23 June 2006 | |
| Yes, Schedule D is where you report the gains/losses. She has 1099's for exchanges does she not? | |
Sfhurrell@hotmail.com (talk|edits) said: | 23 June 2006 |
| Why is she calling this bartering income? Maybe she did something for the broker in exchange for reduced trading costs or research. Just a thought | |
| 23 June 2006 | |
| Nothing that you've described sounds like bartering income. It sounds like short term gains on stock and bond sales which are reported on schedule D of form 1040. | |
To join in on this discussion, you must first
log in.
