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S Crooks
Reply with quote  #1 

An agent pays a legal and ethical cash rebate after closing not specified or identified in listing agreement. Would this be deducted on the C under returns and allowances? Thanks

Andrew Schwartz CPA
Reply with quote  #2 
Great question.  As a general rule of thumb, any time you incur an expense that is both "ordinary" and "necessary" in connection with your profession, the amount of money you spend on that item is deductible to you against your commission income.

Whether you claim that item as returns and allowances, advertising, or on some other line of your Schedule C won't matter at all. The key issue is that the amount you spend offsets the gross income you are reporting.

I hope this helps you out.
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