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BARTER SYSTEMS, INC. OF WICHITA v. COMMISSIONER

Docket No. 4848-87.

59 T.C.M. 72 (1990)

T.C. Memo. 1990-125

Barter Systems, Inc. of Wichita v. Commissioner.

United States Tax Court.

Filed March 12, 1990.

Attorney(s) appearing for the Case

John Leeper and Towner Leeper, 661 Mesa Hills Dr., El Paso, Tex., for the petitioner. C. Joseph Craven, for the respondent.

Memorandum Findings of Fact and Opinion

COLVIN, Judge:

Petitioner was a barter exchange operated as a vehicle for the exchange of goods and services among its members.

The primary issues for decision are (1) whether petitioner realized income on the receipt of property from members in exchange for the issuance of trade units, and (2) whether petitioner realized income on the sale of property to exchange members for trade units.

As discussed...

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