SRECs are super easy with RECmint. We offer fully automated monthly reporting, low transaction costs, and the best pricing. Call us or take the first step to sign up.
Will my SREC payments be reported to the IRS on a 1099?
Are SREC payments considered taxable income?
Will my SREC payments be reported to the IRS on a 1099?
It's up to you to determine if you should report SREC income. You should discuss with your tax accountant or tax lawyer what is the proper way to report this income stream on your tax returns. At this time, RECmint will not be providing 1099s in accordance with the IRS tax code.
We've heard that there exists an opinion held by some tax professionals that SREC payments are not necessarily considered income (instead, it’s cost recovery). We have been advised to not supply 1099’s. Please consult a tax advisor if you want additional clarification.
