Homebuyer Tax Credit

For California homebuyers, tax time is now tax relief time too. Thanks to two recent laws, a California homebuyer may qualify for $18,000 in tax credits for buying his or her piece of the American dream. The two tax credits are a first-time homebuyer credit up to $8,000 under federal law, and a new home credit up to $10,000 under California law. For more information on the tax credit laws, C.A.R.’s Legal Department has a legal article entitled Housing Stimulus Laws of 2009 which is available for members only.
Here’s a quick summary of the two tax credit laws:



http://www.car.org/legal/2009-qa/homebuyer-tax-credit-chart/