judys3
Level 7
04-04-2024
05:34 PM
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I have a customer that has a 1099-B box 13 Barterning $74,324.00. How do I report this on their return? This is the first time I have had this.
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sjrcpa
Level 15
04-04-2024
06:56 PM
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What kind of business is he in?
What did he barter?
The more I know the more I don’t know.
judys3
Level 7
04-04-2024
07:17 PM
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Bullion
judys3
Level 7
04-04-2024
08:28 PM
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73k was reported in box 13. He received money. So I assume what he paid for it will be his basis? He has receipts where it was paid for. So I assume that’s basis
judys3
Level 7
04-05-2024
01:37 PM
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this was not a business related transaction. Customer purchased gold years ago and sold in 2023 for a loss. I just want to make sure I am correct this will go on the schedule D and the loss of more than 3k will carry forward