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 fair market value of the services they received as income on their respective tax returns, as bartering is considered taxable by the IRS.

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