1099NEC submittal for sale of a single family home rental property

After selling a rental home is it required to submit 1099NEC for the sales commission paid?

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No, a 1099 NEC is not required for the sale of a single family home. Neither Seller nor the buyer have any obligation to report the commissions that their real estate representatives received.

Property owners do not need to complete a 1099-MISC for the commissions they pay to real estate professionals because this activity is not part of their trade or business.

The realtor commission(s) will be listed on the closing statement (HUD) as a separate line item. In addition anyone responsible for closing a real estate transaction, which may include the escrow agent, title company, or attorney, to report a real estate sale or exchange to the IRS on Form 1099-S.