I plan to become a real estate specialist who works with seniors. Once I get my designation, I will approach seniors’ groups and offer their members a rebate on real estate commissions. How should I treat these donations for tax purposes? (J. C., Wilmington, NC)
When the discount is taken from your commissions at the time of closing, you do nothing if your 1099 shows your commission income net of the discount. Here, you get the deduction automatically, ... Log in to view full article.