[WSBAPT] Taxation of Commission Rebate
Jennifer Sohn
jennifer at sohn-law.com
Mon Jun 6 23:38:11 PDT 2016
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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