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Level 1

Question

A friend wanted to sell his home so I helped post it up for sale. When the house sold he gave me $2000. I am unemployed. How do I file taxes witht that money?

2 replies
29 views

It is not a business he just gave me a commission for showing it to buyers.

Level 15

you performed services for the seller so it is not a gift and is thus taxable income. Revenue Ruling 58-112 characterizes a trade or business activity as one that is regular, frequent and continuous. therefore, if this is something you don't do regularly report as misc income on schedule 1 line 8z. if done regularly report on schedule C.

Mike9241

Alumni - Intuit

He probably did not give you commission if the state regulates sale agents as most states do.

You should ask if that was a gift, in which case you would need to do nothing. Gifts are not reported by the person that received the gift.

If the other person deducted the 2,000 as a selling expense, you would need to claim it.

How to report the income in that case, would depend in part by the tax form that person gave you, 1099-MISC or 1099-NEC or something else.

If it was cash (or check) and no tax form, you could enter it as

Income

Less Common Income

Miscellaneous Income, 1099-A 1099-C START

From there you could choose HOBBY INCOME or OTHER REPORTABLE INCOME

@amcaroy03131

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