[WSBAPT] Taxation of Commission Rebate
John J. Sullivan
sullaw at comcast.net
Mon Jun 6 22:47:39 PDT 2016
Jennifer:
The buyer does not recognize income. It reduces the buyer's basis in the new home.
http://timelineres.blogspot.com/2011/04/while-rebates-from-real-estate-agents.html
John Sullivan
Sent from my iPad
> On Jun 6, 2016, at 9:22 PM, Jennifer Sohn <jennifer at sohn-law.com> wrote:
>
> Hi, when a buyer's real estate broker gives a portion of his commission to his client (buyer) after closing as a rebate, my understanding is that he can deduct the rebate as a business expense just like any appliance manufacturer's rebate. How is it treated (for tax purposes) for the buyer who is receiving the rebate?
>
> Thanks,
>
> Jennifer Sohn
> 206-617-7874
>
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