Tax question - Home buyer commission

[Bheem Boy]

Hello friends, i bought a house last year. Buyer Realtor commission naku ichesindi, but gave a 1099 form showing that amount. Ipudu tax file chesinapudu etla report cheyali adi? Daniki tax kattala or some other way to represent it? Anybody went thru it, please help. 

[boeing747]

1 minute ago, Bheem Boy said:

Hello friends, i bought a house last year. Buyer Realtor commission naku ichesindi, but gave a 1099 form showing that amount. Ipudu tax file chesinapudu etla report cheyali adi? Daniki tax kattala or some other way to represent it? Anybody went thru it, please help. 

you have to pay tax...

tax returns chesetappu, income sources lo w2 fill chesinatte, use this 1099 form and its particulars to fill the 1099-misc income. 

Turbo tax using aa or an accountant?

[Bheem Boy]

Just now, boeing747 said:

you have to pay tax...

tax returns chesetappu, income sources lo w2 fill chesinatte, use this 1099 form and its particulars to fill the 1099-misc income. 

Thanks bhayya. Ee link lo https://www.thebalance.com/commission-credits-to-home-buyers-1798320 "what about taxes" section lo....future lo sale chesinapudu profit lo chupinchochu ani edo undi, married aithe 500k varaku allowed ani. So just checking if it is possible or not ani.

[ekunadam_enkanna]

https://ttlc.intuit.com/questions/4235302-i-received-a-1099-misc-from-my-real-estate-agent-for-a-commission-rebate-is-this-considered-taxable-income-for-me

[boeing747]

6 minutes ago, Bheem Boy said:

Thanks bhayya. Ee link lo https://www.thebalance.com/commission-credits-to-home-buyers-1798320 "what about taxes" section lo....future lo sale chesinapudu profit lo chupinchochu ani edo undi, married aithe 500k varaku allowed ani. So just checking if it is possible or not ani.

future home sale guirnchi idea ledu bro. cousin last yr illu konnadu and he got credit like you..vadu accountant through tax returns file chesadu and he paid taxes for that comission he recieved on 1099-misc

[Sizzler]

You should have had the agent pay that towards the closing costs / down payment. That would have helped the agent and you both.