Discussion:1099 Misc from Purchase of Own House

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Discussion Forum Index --> Tax Questions --> 1099 Misc from Purchase of Own House

Belle (talk|edits) said:

March 1, 2008
Client is a massage therapist and has real estate license (yes, Califonia :-).

Just got the r/e license in late 2007, no real estate commissions EXCEPT for the one for the 'rebated' commission to her on the purchase of her own primary residence. Done this way for loan purposes per client(?? - no logical explanation that I could decipher).

The commission is on a Form 1099 Misc.

ANY justification for not including the commission as self-employment income? The seller paid the commission to her, so she 'earned' it.

If the purchase price had just been reduce by the commission (as seems to be the normal way of doing things in this area), this wouldn't even be around for discussion.

Thanks for any input - I feel like I'm missing something obvious.

Kevinh5 (talk|edits) said:

1 March 2008
we discussed this last year

NO

Belle (talk|edits) said:

March 1, 2008
I did search (I PROMISE!). Could you be a dear and give me a clue to finding the thread?

My gut said no....but I'm always hopeful for finding loopholes I don't know about just yet. Thanks, Belle 15:43, 1 March 2008 (CST)

Kevinh5 (talk|edits) said:

1 March 2008
here's one Discussion:Commission to self in real estate deal

search 'real estate commission' and click on 500 views to find others

Kevinh5 (talk|edits) said:

1 March 2008
(the key to searching is to try different but similar terms, like 'Real Estate Commission' and 'Realtor Commission' until you find what you want. The above search took me about 40 seconds. )

Belle (talk|edits) said:

March 1, 2008
Thanks, I did find it while you were responding....I'm still learning to search efficiently.

Do you teach seminars on that also :-)

Kevinh5 (talk|edits) said:

1 March 2008
LOL

how would I keep all the DIYers out???

Belle (talk|edits) said:

March 1, 2008
Excellent point - my bad. I notice you posted to Tim in FAQ a few months ago about searching issues.

Kevinh5 (talk|edits) said:

1 March 2008
yes, it is my pet peeve

searching should be a pre-requisite for posting, so I appreciate your stating that you did try

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