Thanks @Opus 17 for your response,
I have another followup question.
so right now I have not received the 1099 yet. So I shall tell my realtor to not give me 1099 instead use it to towards the reduction of the purchase price?
Also, when we say reduction of the purchase price or the "Reduction of the home basis" what exactly it means?
Does it mean that if my house price is X $ and Realtor gives me Y$ commission, then while registering the house the price of the house would be (X-Y)$?
Thanks,
