When realtor buy an investment property and put their realtor rebate back to the settlement, is it taxable?
Posted by RealEstateSEO | Posted in Real Estate SEO | Posted on 22-01-2007
Tags: Income Tax, Property Tax, Realtor, Support Document
2
Angel asked:
I have two answer.
I have two answer.
1) If put back to settlement, it is not taxable. It only reduce your purchase price, when you sell your investment property, you have to pay tax. You only need to pay tax if you get check directly from the builder.
2) Another group think 1) only apply to second home. For realtor buy investment property, even realtor put rebate back into settlement, they still have to claim it as income and pay tax on it.
Which one is true, any website as support document? Thanks.
If the law will be different from state to state? I am in Maryland.
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