I bought new house and my real estate agent gave me a portion of her commission directly to my bank account, I haven't received any 1099 form from her yet.

snaghian · ‎June 6, 2019

TomD8 · ‎June 6, 2019

A cash rebate to the buyer of a property at or after closing is considered a reduction in the price. It is not taxable income for the buyer, nor does the realtor have to issue a 1099-MISC. However, when the buyer eventually sells the property, he or she must subtract the amount of the rebate from their cost basis.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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TomD8 · ‎June 6, 2019

A cash rebate to the buyer of a property at or after closing is considered a reduction in the price. It is not taxable income for the buyer, nor does the realtor have to issue a 1099-MISC. However, when the buyer eventually sells the property, he or she must subtract the amount of the rebate from their cost basis.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

snaghian · ‎June 6, 2019

The only thing that concern me is, she asked me to sign the paper with my SSN number, Not sure why she did that.

TomD8 · ‎June 6, 2019

You might show her the last two paragraphs of this web reference, written by a tax attorney: <a rel="nofollow" target="_blank" href="https://www.inman.com/2011/05/06/tax-practices-real-estate-commissions-rebates/">https://www.inman.c...>

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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I bought new house and my real estate agent gave me a portion of her commission directly to my bank account, I haven't received any 1099 form from her yet.