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Arman is an arborist. Arman agreed to remove a tree for his neighbor. In exchange, his neighbor, a mechanic, fixed the air conditioner in Armans
Arman is an arborist. Arman agreed to remove a tree for his neighbor. In exchange, his neighbor, a mechanic, fixed the air conditioner in Armans car. Arman would have paid$1,000 to have the air conditioner fixed if he took it to the dealership, and his neighbor would have paid an arborist $1,000 to remove the tree. What amount, if any, must Arman include in gross income as a result of the transaction?
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