Re: Is Barter Taxable?

On May 15, 10:57 pm, "parl...@xxxxxxxxxxxxx" <parl...@xxxxxxxxx>
wrote:
If a friend of mine who is a professional carpenter does some work for
me around my house, do I have to pay taxes on this if I bought him
pizza "in exchange” for his services?

I'd like to ask this question again with a few variations:

1. If a friend of mine who is a carpenter by profession does some work
on my house and I buy him a pizza “in exchange” for his services has
an accounting transaction just occurred? Do we each have to pay taxes
on the value of this exchange?

2. What if that person is my dad?

3. What if it’s an uncle? An in-law? A second cousin twice removed?

4. What if instead of a pizza I bought him passage on a cruise?

5. What if I gave him an old car that I owned outright?

6. What if I just gave him a hug?

7. What if I gave him a piece of paper that says “I promise to mow
your lawn.”?

8. What if I gave him a piece of paper that says “I promise to give
you $1,000 when I sell my house?”

9. What if I fixed this person’s computer while they were working on
my house?

10. What if I gave this gave this person a password to my Online Role-
Playing Game and let them take over my identity which I had
painstakingly earned 10,000,000 power points and could do all sorts of
cool tricks that only 10,000,000 power points can buy?

11. And finally, what if I didn’t give this person anything for their
services but later that same year it just so happened that I ended up
doing one or all of the above?

No joke. I’m really interested in understanding the answers to these
questions. All of the above have actually happened in my life, except
#10 because I don’t play role-playing games…at least not enough to
earn 10,000,000 power points.


.

Relevant Pages

  • Re: Is Barter Taxable?
    ... me around my house, do I have to pay taxes on this if I bought him ... pizza "in exchange” for his services? ... Do we each have to pay taxes ... What if instead of a pizza I bought him passage on a cruise? ...
    (misc.taxes)
  • Re: Is Barter Taxable?
    ... me around my house, do I have to pay taxes on this if I bought him ... pizza "in exchange” for his services? ...
    (misc.taxes)
  • Re: Is Barter Taxable?
    ... me around my house, do I have to pay taxes on this if I bought him ... pizza "in exchange” for his services? ... have to pay taxes on the value of the work in question. ...
    (misc.taxes)
  • OT: Me and Hurricane Katrina
    ... You can't imagine the damage this little storm caused. ... neighbor had a pine tree cut the back end of their house off. ... Power poles were either broken in half like ... water poured in as if we had installed a waterfall feature over our dining ...
    (rec.music.makers.percussion)
  • Re: OT: Me and Hurricane Katrina
    ... You can't imagine the damage this little storm caused. ... >neighbor had a pine tree cut the back end of their house off. ... Power poles were either broken in half like ... >water poured in as if we had installed a waterfall feature over our dining ...
    (rec.music.makers.percussion)