[GNC] Crypto trade directly - not converting to local currency first

[john]

> On May 23, 2022, at 5:32 AM, Michael or Penny Novack <stepbystepfarm at comcast.net> wrote:
> 
> Are there any folks in Ithaca NY using gnucash to track the local "currency"? << or in the other places where a "local currency" is in use >> For those who don;t know what I am talking about, the "Ithaca Hour" is a work exchange currency. Nominally pegged at $10/US but there is not supposed to be currency exchange << is there a "black market" exchange rate? >>

Using a non-currency for trade is barter. https://www.irs.gov/taxtopics/tc420 <https://www.irs.gov/taxtopics/tc420> sketches the reporting requirements for US taxpayers.

Regards,
John Ralls