June 8, 2008 by admin

1215. What items are counted as earnings for real estate brokers?

If you are a real estate broker, the following items are counted as earnings:

1. Fees you receive for buying, selling, and renting properties owned by someone else; and

2. Income you receive from the sale or rental of properties for which you have taken title in your own name until you can find a buyer.

Note: You are a real estate broker if you buy, sell or rent properties owned by someone else.

Last Revised: March, 2001