[p2p-research] is barter taxable ?

[Dante-Gabryell Monson]

fyi, following a thread on the ripple list...

*" Is barter taxable? "*
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*" are gifts taxable ? "*
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*... and ultimately I ask myself*
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*" is leeching taxable ? "*
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*http://en.wikipedia.org/wiki/Leech_(computing)*
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*"  being a leech or leecher refers to the practice of benefiting, usually
deliberately, from others' information or effort but not offering anything
in return " ... " Mainly, leeching is taking without giving. "
*
---------- Forwarded message ----------
From: Dante-Gabryell Monson <dante.monson at gmail.com>
Date: Wed, Jan 6, 2010 at 5:49 AM
Subject: Re: Ideas for encouraging the growth of the ripple network
To: rippleusers at googlegroups.com


*" Is barter taxable? "*

*following Adam's last post,
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*I found some interesting replies ( related to the united states ) *
*through doing a search :*
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http://askville.amazon.com/bartering-taxable/AnswerViewer.do?requestId=1885054
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*more :*
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http://www.google.com/search?sourceid=chrome&ie=UTF-8&q=is+barter+taxable%3F
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*also leads me to question " are gifts taxable ? "*
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http://www.google.com/search?aq=f&sourceid=chrome&ie=UTF-8&q=are+gifts+taxable%3F

I feel like letting some of you formulate various scenarios in how this
could apply to ripple :-)

... I hope I will not be taxed for leeching :-)

by the way, in what way is leeching different then a gift ?


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excerpts from

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http://askville.amazon.com/bartering-taxable/AnswerViewer.do?requestId=1885054
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*" The key is whether there was an intent to compensate someone as a part of
the barter. "*
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http://www.irs.gov/businesses/small/article/0,,id=113437,00.html
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*Under the exceptions, barter exchanges are not required to file Form 1099-B
for:

Exchanges through a barter exchange having fewer than 100 transactions
during the year.
Exempt foreign persons as defined in Regulations section 1.6045-1(g) (1).
Exchanges involving property or services with a fair market value of less
than $1.00.
Transaction involving corporate members or clients of barter exchange may be
reported on an aggregate basis. *

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the question on barter and taxation complements a first answer by John to
[idea 4] on this thread regarding

" lets and taxation "

http://en.wikipedia.org/wiki/Local_Exchange_Trading_Systems#LETS_and_taxation

Cordially,

Dante
http://hitchwiki.org/en/dante
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On Tue, Jan 5, 2010 at 11:01 PM, Adam Harper <harpereaves at gmail.com> wrote:

> [idea 4.] Thank you for the link. I had thought this might be the
> case. My suggestion is based on the vagueness of the term "business-
> like" and on the lack of true distinction between the ripple system
> and barter. Is barter taxable? What if only two people enter a
> business-like arrangement, but never use money, only trading services?
> Does that get taxed?
>
>
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