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Reporting a bartering transaction from a non-profit
October 12, 2022
Q. Our university’s foundation would like to provide a local vendor season passes to university performances in exchange for newspaper advertising. The bartering transaction is valued at $480 annually. Are there any tax reporting requirements or consequences for our 501(c)(3) foundation organization?
A.
(Answered by IOFM's third-party tax experts)
The fair market value of the season passes is compensation for advertising, which is payment for a service, reportable on Form 1099-NEC if the payee…
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