Help - The 1099-A Process

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1

What broker fees are legal?

Christopher said in one of his Q&As, the Trustee is permitted to take a 5% fee; but, if an individual works as a broker, are they permitted to charge more?

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Len
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IMO, what ever is agreed to between you by creating an agreement.
5% is the average. What do credit cards charge up to 30%?

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eddie
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If I recall correctly, CH mentioning in the video about the broker to allow people to 1099a stuff, they are charging about 30%. It really comes down to what's agreeable to all parties.

For example, I'm working on putting together a way for people interested in acquiring a house, and I would have people 1099a the house price + 15%, which is held in escrow. The 15% may cover precosts (pest, mold, and other inspections), closing cost, etc. Whatever's left is my fee. That's tentative. Remember, "everything's negotiable."