Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.
The IRS classifies barter companies as third-party record keepers. Thus, ITEX has the same reporting requirements as banks and stock exchanges. Each year, members receive a Form 1099B that reports their ITEX sales (US $1.00 = 1.00 trade dollar). A copy of the member’s Form 1099B is also sent to the IRS, as required by law.
