topic I am a real estate agent. To close a sale, I agreed to a $1500 concession on my commission. Would that amount be considered a deductible business expense? in Business & farm

I am a real estate agent. To close a sale, I agreed to a $1500 concession on my commission. Would that amount be considered a deductible business expense?

arbyers — Tue, 04 Jun 2019 20:42:14 GMT

Marketstar — Tue, 04 Jun 2019 20:42:16 GMT

No, unfortunately, the IRS does not allow a deduction or credit for income not received.

arbyers — Tue, 04 Jun 2019 20:42:17 GMT

Thanks. I figured as much, but never hurts to ask. 🙂

Marketstar — Tue, 04 Jun 2019 20:42:19 GMT

Yes, but don't forget to deduct all of your "ordinary and necessary" realtor expenses. Thanks for choosing TurboTax!