[WSBAPT] Taxation of Commission Rebate

[Jennifer Sohn]

Great, thanks John.

Jennifer Sohn

> On Jun 6, 2016, at 10:47 PM, John J. Sullivan <sullaw at comcast.net> wrote:
> 
> 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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