I sold a house and received a credit back from both my realtor and the buyer's realtor at closing. How am I supposed to report these credits?
- Subtract the credits from realtor commission fees and other selling expenses that I am allowed to deduct from the sale?
- Add the credits to the sale price of the house (note, the 1099s form I received did not include the credit in box 2 gross proceeds)
- Report as some other form of income?
- No need to report them at all?
