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Trades and Swaps? IRS Gets a Piece (Really)

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Ah, summer. As you clean out your garage, get back from vacation or gear up for school in the fall, you might be doing some trading. Is it taxed? You bet. Whether one-on-one or with multiple parties, the IRS says trading one product or service for another is taxable bartering. Plumbing for dental work? The IRS taxes it. You name the swap, it’s income to both sides just like cash.

 

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