Do you know if the commission is taxable if the real estate agent is also the buyer? As a real estate agent and buyer of a new development from a builder, the builder is offering a commission back to real estate brokerage, which in turns the brokerage will issue a 1099 back to the agent/buyer for commission in this case. Does this commission need to be reported as taxable income? Or can it still be deducted from cost basis and deferred the tax to the future when agent/buyer sells this house? Thank you!
