Do I have to report income that was a credit toward closing cost when closing on a mortgage. I did not receive cash. I have a 1099-misc from the institution.

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Do I have to report income that was a credit toward closing cost when closing on a mortgage. I did not receive cash. I have a 1099-misc from the institution.

No, closing cost credits are not income to you. They are merely reductions of your costs because someone else in the transaction is covering those costs.

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Do I have to report income that was a credit toward closing cost when closing on a mortgage. I did not receive cash. I have a 1099-misc from the institution.

Do I have to report income that was a credit toward closing cost when closing on a mortgage. I did not receive cash. I have a 1099-misc from the institution.

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Do I have to report income that was a credit toward closing cost when closing on a mortgage. I did not receive cash. I have a 1099-misc from the institution.

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Do I have to report income that was a credit toward closing cost when closing on a mortgage. I did not receive cash. I have a 1099-misc from the institution.

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