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emporay Marke a AAdvantage FrequenADT P 5.5 pts DI Question 4 Sally is a cash basis taxpayer and a member of the Valley Barter club.

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emporay Marke a AAdvantage FrequenADT P 5.5 pts DI Question 4 Sally is a cash basis taxpayer and a member of the Valley Barter club. This year ally provided 100 hours of sewing services to the barter club in exchange for wo football playoff tickets. Which of the following is a true statement? Saly need not recognize any gross income unless she sells the football tickets. Sally's exchange does not result in taxable income. Saly is taxed on the value of the football tickets even if she cannot attend the game. Sally is taxed on the value of her sewing services only if she is a professional seamstress All of these are true

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