I've recently bought a new house and the real estate broker cut me a check of $4K after closing as a buyer rebate. I've recently received a 1099-NEC from him. As my understanding, if the rebate is issued out of the closing table, then it is taxable as my income. Is it true? Does it consider as a self-employment tax and it is higher than my regular W2 tax?
Best Regards,
Nathan
