I received a 1099-MISC from my real estate agent for a commission rebate. Is this considered taxable income for me?

[Sabquat]

Hi @KrisD15 ,

I have asked my realtor to void the 1099-NEC form and provide me1099-MISC form instead. Today he got back to me and told me he could not void the 1099-NEC but could provide me a new 1099-MISC. I believe, getting two forms for the same money will make the situation more complicated. In this scenario can I report the 1099-NEC to IRS and still avoid tax on this rebate money? 
Currently, I have added the 1099-NEC form as my income (Turbo tax included that as a self-employed income) and deducted the amount as the self-employed expense. I have added a small note in the expense section and referred to the PLR 1571111-06. Is that okay?

[DianeW777]

Yes, getting two forms is not the answer and would make the situation more complicated.  The reference and reporting is sufficient, just be sure you do not include the rebate portion as part of your purchase price. 

As indicated in several examples be sure to reduce your overall cost by the rebate you received.  Keep all this information with your tax return records and your purchase records of the property. Simplified - reduce the commissions paid by the rebate.

@Sabquat