Walter lives in a small town and runs his own handyman business. He is occasionally paid...

 

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Walter lives in a small town and runs his own handyman business. He is occasionally paid by customers in property or services, which must be included in income if received in a barter exchange. How should Walter determine the value of payments of property or services? a) The fair market value of the property or service provided by the taxpayer (on the date given) b) The cost of the property or service provided by the taxpayer c) The fair market value of the property or service received by the taxpayer (on the date received) d) The cost of the property or service received by the taxpayer Walter lives in a small town and runs his own handyman business. He is occasionally paid by customers in property or services, which must be included in income if received in a barter exchange. How should Walter determine the value of payments of property or services? a) The fair market value of the property or service provided by the taxpayer (on the date given) b) The cost of the property or service provided by the taxpayer c) The fair market value of the property or service received by the taxpayer (on the date received) d) The cost of the property or service received by the taxpayer