Do I pay tax on incentive I get from real estate agent?

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Do I pay tax on incentive I get from real estate agent?

2007-08-01 08:37:39 · 4 answers · asked by nysung82 1 in Business & Finance ➔ Taxes ➔ United States

4 answers

Sure, it's income to you, so it's subject to income tax.

2007-08-01 09:01:19 · answer #1 · answered by Anonymous · 0⤊ 0⤋

Please explain a little more about what this "incentive" is. If the agent is rebating part of the commission that you have paid him or her, it wouldn't be taxable, but otherwise it probably is.

2007-08-01 20:16:14 · answer #2 · answered by Judy 7 · 0⤊ 0⤋

Need more info
Are you paying a commission to this agent?

2007-08-01 15:45:28 · answer #3 · answered by William R 7 · 0⤊ 0⤋

Call it anything you want. If someone gives you money, the IRS want's it's cut. Yes you have to pay taxes on it.

2007-08-01 15:46:22 · answer #4 · answered by Anonymous · 3⤊ 0⤋