My in-laws tried to sell their ratty rental condo through realtors for about a year and a half. When the last realtor's contract ran out, I said "I've always been curious about selling real estate. If you give me a crack at it I'll only charge you 2%." I mostly wanted to see if I liked selling RE. Four months and a few repairs later it's under contract.
Now my in-laws want me to invoice them for my commission so they can include it in the closing process and deduct the expense from their cost basis. That's easy, but it means I had better report that income correctly for tax purposes!
What kind of documentation do I need aside from a copy of the invoice?
I'm not incorporated, just an individual getting paid for work. As I recall, tax forms just have an "other income" line where you enter an amount (I'm in the US). Is that all there is to it?