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Should I input my gross or net commission earnings for taxes? I am a real estate agent and I made a gross commission, about $15k of that gross was paid to my brokerage.

 
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WillK
Intuit Alumni

Should I input my gross or net commission earnings for taxes? I am a real estate agent and I made a gross commission, about $15k of that gross was paid to my brokerage.

You would report your gross as income, and then any expenses you had (such as your brokerage fees) as an expense on the return. As you navigate through the Turbo Tax software will guide you through where to enter in your expenses in to set categories. It will also help you create expense categories that you need to. 

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2 Replies
WillK
Intuit Alumni

Should I input my gross or net commission earnings for taxes? I am a real estate agent and I made a gross commission, about $15k of that gross was paid to my brokerage.

You would report your gross as income, and then any expenses you had (such as your brokerage fees) as an expense on the return. As you navigate through the Turbo Tax software will guide you through where to enter in your expenses in to set categories. It will also help you create expense categories that you need to. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
TomD8
Level 15

Should I input my gross or net commission earnings for taxes? I am a real estate agent and I made a gross commission, about $15k of that gross was paid to my brokerage.

Your gross is the amount reported in Box 7 of your 1099-MISC.  If the money you paid to the brokerage was taken out of those funds, you can deduct it as an expense.  But if the broker's "split" was not included on your 1099-MISC, you can't deduct it.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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