Is there a way to minimize the taxes on this? Reducing the property price by the amount of cashback is not an option.
2006-08-07 07:00:36 · 4 answers · asked by shail_sharma@sbcglobal.net 1 in Business & Finance ➔ Taxes ➔ United States
Realtors rebating commissions are perfectly legal, just have your agent apply it to your closing costs or downpayment on the HUD, super simple and no tax implications.
www.hqhomes.com
www.cabellahomeloans.com
2006-08-07 16:44:33 · answer #1 · answered by Tony 3 · 0⤊ 0⤋
Why would the buyer get a portion of the realtor's commission? It sounds like something unethical/ illegal is going on. I would check with an attorney before proceeding with the deal.
2006-08-07 14:13:29 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
if it were consider to be a gift then there is no tax consequence. You should check with your tax preparer.
2006-08-07 12:26:20 · answer #3 · answered by Jennifer G 2 · 0⤊ 0⤋
No.
What dollar amount are we talking?
2006-08-07 09:34:27 · answer #4 · answered by 3eleven 4 · 0⤊ 0⤋