Hi Kris,
Thanks for the details explanation.
Just curious about the "rebate". We already got the discount from seller(builder and loaner) and put it in the closing statement. The realtor got 3% commission from the seller, and then gave 1% to us. Based on your explanation, it seems the realtor paid the "rebate"? He issued the 1099-NEC to us (it should not as you said) in order to prove the reduction of his income(from 3% to 2%), for his taxes return purpose maybe? Am I correct?
"You would reduce your basis (the purchase price you paid) for the home."
This does not affect on Tax Return, but when selling the house in the future, right?
Thanks again!
