Maybe Bartering or and non money pay
* I gave a co-worker either in 2023 or 2024 tax year a used space heater to be fair to her because I gave another co-worker a gift also, well it maybe was in return, she gave me some new trash bags for the trash can at work. Is this considered bartering, and does IRS and NJ Taxation require me to report this on my tax returns? I did tell her on the lines, the day I gave her the heater (maybe for her and her mother), not to pay me for it. However, I may did some or all accept the trash bags she gave me. Where on my tax return would I report this just in case I may need to?
Answers
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These two things don't really seem like "bartering". This seems like two unrelated events. but here's the link to the IRS website for the rules and instructions on reporting "bartering"
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Greetings,
Thank you.
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