KrisD15
Expert Alumni

Get your taxes done using TurboTax

In my opinion, the Broker should have let Title handle that as a credit at closing, but I am not a Real Estate Attorney. 

If the Broker/Agent received the funds, and then turned around and gave you a rebate, they might use Form 1099-MISC.

 

Explain to the Broker/Real Estate Agent that they should use 1099-MISC if they need to issue a tax form.

1099-NEC is for Non-Employee Compensation, which is another way of saying "Sub-Contractor Fees". Income on Form 1099-NEC needs to be reported as "Self-Employment Income" which in your situation it definitely is not.  

 

 

 

@Sabquat 

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