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As a Realtor my broker issues a 1099 for full commission even though I only get 80%

As a Realtor my Broker issues a 1099 for full commission even though I only receive 80% of that by check from title company. Under what line should  I claim the 20% of their share?

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MarilynG1
Expert Alumni

As a Realtor my broker issues a 1099 for full commission even though I only get 80%

You would claim your broker fees as a Business Expense on your Schedule C.

 

If you don't see an expense category you feel is appropriate, use 'Miscellaneous Expense' and type in a description. 

 

As a realtor, you have multiple expenses to claim, including cell phone, computer, mileage, subscriptions, broker fees, etc.

 

Here's Tax Tips for Real Estate Agents and Brokers. 

 

 

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