capital gain or comission? Dear Sir,
I am a realtor and recently I (buyer) assigned a contract (property contract) which was under contract to another buyer.I charged a fee for assigning this contract. That means I was the buyer of the property and the contract was signed and before closing I (buyer) then assigned this contract to another buyer MR.ABC for a fee. Later,this contract was closed and done with the MR.ABC.
This is my first time dealing with such case.May I know if i can treat this assignment fee as capital gain? Or is this assignment fee treated as my comission? Appreciate your advice.
Thanks
family57 |