Retirement tax questions

It depends because the SREC is an investment and can be reported as an investment sale rather than other income. Here is how to report.

1. Go to federal
2. Wages and income
3. Investment Income”
4. Choose “Stocks, Mutual Funds, Bonds, Other” and select “start’  
5. The first screen will ask if you sold any investments during the current tax year (This includes any sale of real property held as an investment property so answer “yes” to this question)
6. Since you did not receive a 1099-B, answer “no” to the 1099-B question
7. Choose type of investment you sold - select everything else
8. What type of investment other
9. How did you receive the investment. Indicate you purchased it. 
10. In description type in SREC
11. Some basic information:
    1. Description –  Usually Once he address of the property sold
    2. Sales Proceeds –  The amount you received for the sale
    3. Date Sold – Date you sold the property
    4. Cost or other basis  (This is the price of purchase.) 
    5. Date purchased
12. On the next screen it asks if you had selling expenses, here you can deduct broker commissions as these are used to reduce the capital gains from the sale. 

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