Sunday, May 09, 2010

More on the tax credits

As you may know, in order to be eligible for the federal tax credit, a sale has to close no later than June 30 (the transaction needed to start by April 30).  This article from the L.A. Times details possible delays, and offers advice on how to avoid them.

Also, don't forget: if your transaction is eligible for the California state tax credit, you need to apply for the credit within 10 days of closing.  Paperwork has to be done by both the buyer and the seller.

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