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D
dorothyywt
October 29, 2024
Question

realtor client rebate tax question

  • October 29, 2024
  • 1 reply
  • 0 views

I'm a realtor based in Austin. I have a question about tax on client rebate. I will give my clients $5000 as rebate from my commission. Because of lender requirements, I can't put these 5000 in their closing costs. I have to give them in personal check. If I do that, should I pay tax based on my total commission or I can deduct rebate as business expense?

    1 reply

    B
    Bsch4477
    Employee
    October 29, 2024

    If you are self employed and include the rebate amount in reported income you can claim that amount as an expense. 

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