If Raphael,a roofer,decides to fix the roof of his neighbor,Angela,in exchange for Angela providing bookkeeping services for his business,then ________ must report income on the tax return.

Question

Quizplus · Accepted Answer

Both Raphael and Angela must report the value of the services they receive as income on their tax returns, as this is considered bartering, which is a taxable transaction for both parties involved.

If Raphael,a Roofer,decides to Fix the Roof of His Neighbor,Angela,in