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Get your taxes done using TurboTax
@CPARealtor88 Besides the harsh words, what information were you correcting. I am guessing the workaround to issue a 1099 by claiming that the buyer did some work for you. I agree, any payment to the buyer outside of closing would be illegal.
I am curious about why you think that the agent should reflect the rebate on line 2. This is how i see it. The commission for the buyer's broker is $15K. Broker as agree to rebate $5K to buyer at closing. Broker has a 60/40 split with agent. Broker reports $10K and reflects a $6K allowance on line 2 for sales person commission. Agent declares $6K in commission. The broker never paid the buyer. That $5K came out of the closing. You are the expert, correct me if I am wrong.
‎January 6, 2021
7:35 AM