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jh5623
New Member

Can portion of real estate sales commission received as an agent that is kept by my broker be deducted and if so what line item on Schedule C?

I am a new real estate agent, my broker keeps a certain amount of my commissions  from each commission I receive.  My 1099 Misc included the total commissions including this amount kept by broker.  How do I deduct this and on what line does it get filed on Schedule C?
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DDollar
Level 4

Can portion of real estate sales commission received as an agent that is kept by my broker be deducted and if so what line item on Schedule C?

Yes you can deduct that amount.  You enter it as a  Business Expense.  You can get there by typing "business expenses" in Search, then click on "Jump to business expenses".  Select "Other Common Business Expenses" and click on Start or Update.   You can then enter under "Commissions" or Other Miscellaneous Expenses.

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1 Reply
DDollar
Level 4

Can portion of real estate sales commission received as an agent that is kept by my broker be deducted and if so what line item on Schedule C?

Yes you can deduct that amount.  You enter it as a  Business Expense.  You can get there by typing "business expenses" in Search, then click on "Jump to business expenses".  Select "Other Common Business Expenses" and click on Start or Update.   You can then enter under "Commissions" or Other Miscellaneous Expenses.

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