Barter transactions can provide your company with important financial, sales and marketing benefits. Like other transactions, however, barter sales are taxable, and your company must report them to the IRS. This is also true of credits you receive or spend through a barter exchange; regardless of how you use barter credits, they are taxable as though they were cash.
Barter Income and the IRS
Thanks so much for replying!
So if I chose the car in exchange for payment of my services, I need to claim the FMV of the item received. In this case the car. So if the sale price was 7999 and the blue book value is presented in a range 3675 to 7925, wghat is the amount I need to claim as income?