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1099-B Barter Income
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asheikh2
Level 1
02-12-2024
09:10 PM
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Hi
I have client getting 1099-B Barter Trade with Box 13 that Proconnect say " There isn't an entry for box 13 in the program."
how you guys entering barter income with box 13 Please advise
Thanks
Asad
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1 Comment 1
George4Tacks
Level 15
02-13-2024
10:49 AM
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1. Read the back of the 1099 B
Box 13. Shows the cash you received, the fair market value of any
property or services you received, and the fair market value of any
trade credits or scrip credited to your account by a barter exchange.
See Pub. 525.
2. Ask the client why they received this income.
Often it belongs as part of Schedule C income.
Answers are easy. Questions are hard!
