McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

تمرين 6

Andre constructs and installs cabinets in homes.Blair sells and installs carpet in apartments.Andre and Blair worked out an arrangement whereby Andre installed cabinets in Blair's home and Blair installed carpet in Andre's home.Neither Andre nor Blair believes they are required to recognize any gross income on this exchange because neither received cash.Do you agree with them? Explain.