Regarding to this
"The IRS has issued a private letter ruling that refunds of commissions by a real estate broker are not taxable income. In the ruling that discuss that no Form 1099 needs to be issued by the broker, and the buyer would treat the refund as a reduction in the cost of the property. See PLR 157111-06 (http://www.irs.gov/pub/irs-wd/0721013.pdf).
Does it mean each of realtor need to file one letter PLR 157111-06 for each property sold with buyer rebates?
