Discussion:Question from a Realtor

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

Jump to: navigation, search

Discussion Forum Index --> Basic Tax Questions --> Question from a Realtor
Discussion Forum Index --> Tax Questions --> Question from a Realtor

Chase (talk|edits) said:

11 February 2009
Hi, A realtor asked me the following question:

"If a realtor sells their own home, should they charge themselves a commission?"

My thought on it is that the realtor would then need to prepare a 1099-Misc for himself. So, while he reduces the capital gain on the sale of his personal property, he would wind up with ordinary income on the other side. I don't think this would make much sense.

Any thoughts about it?

Ekcpa (talk|edits) said:

11 February 2009
what would be the benefit. They would now have income subject to SE.

I assume 121 does not apply in this case or you wouldn't be asking the question.

Chase (talk|edits) said:

11 February 2009
121 Does not apply -- I agree with you.

Kevinh5 (talk|edits) said:

11 February 2009
yellow box - we've had this conversation before. Deja vu all over again. History is doomed to repeat itself because people don't learn to search.

To join in on this discussion, you must first log in.
Retrieved from "http://www.taxalmanac.org/index.php/Discussion:Question_from_a_Realtor"
Personal tools