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Updated about 2 hours ago on . Most recent reply

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Realtor to use commission earned towards closing costs on purchase of own home

Terry L Williams
Posted

Real Estate Agent uses commission earned on the subject property toward their own down payment when they are also the buyer of that same property (personal residence). The Realtor receives a 1099 with the commissions included from sale, can they deduct the closing cost amount paid to reduce or essentially wash out the commissions since they never actually received the money?

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