If a real estate agent is purchasing a property, represents
themselves as Buyer’s Agent, and credits/rebates their commission to themselves:
would this commission rebate be considered a non-taxable event (reduction in
cost basis of property) just as if they had given said commission rebate to a
client that was not themselves? In other words, does the fact that the Buyer
happens to also be the Buyer’s Agent make this otherwise non-taxable commission
rebate taxable?
Within the context of the above, the primary question is the following: should an employing broker issue a 1099-MISC to one of their agents who represented themselves as Buyer's Agent, and credited their entire commission as Buyer's Agent to themselves as Buyer?
