From: Michael S. Lorrey (retroman@turbont.net)
Date: Sat Mar 11 2000 - 15:19:01 MST
GBurch1@aol.com wrote:
>
> In a message dated 3/10/00 1:24:34 AM Central Standard Time,
> sasha1@netcom.com writes:
>
> > What are the tax rules for exchanging houses?
> > How about international exchanges?
> > What are the barter-regulating laws in general?
>
> I'm no tax lawyer (perhaps THAT is the lowest form of life), but the US tax
> system is designed -- in theory -- to "capture" income and capital gains from
> in-kind exchanges.
Thats what I want to know. If two people agree to an exchange where no
cash changes hands, then presumably its an even trade, i.e. no income or
capital gain is realized. If this is so, how can it be taxed?
Mike Lorrey
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