Commission rebate is merely a reduction of your purchase price (you are the buyer). Say you bought a $250K house and the realtor send you a check for 1% of the commission he received from the seller, ie : $2,500. Your new purchase price of the house is now $247,500. That's it. If the realtor was supposed to get 3% he only has to report $5,000, not $7,500.
Immediate remification to home buyer is none. If this is an investment property your depreciation base has changed.
The concept behind this is that the rebate is not actively earned by you.
Please if you don't know tax do not guess.
