Comments on: NAR Frequently Asked Questions About The Homebuyer Tax Credit Changes http://www.brandcandid.com/2009/11/07/nar-frequently-asked-questions-about-the-homebuyer-tax-credit-changes/ Random Thought Particles from a Real Estate Sales Manager in The Woodlands, Texas - Ken Brand, Prudential Gary Greene, Realtors Fri, 19 Mar 2010 23:06:50 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Ken Brand http://www.brandcandid.com/2009/11/07/nar-frequently-asked-questions-about-the-homebuyer-tax-credit-changes/comment-page-1/#comment-2372 Ken Brand Wed, 18 Nov 2009 15:51:20 +0000 http://www.brandcandid.com/?p=3287#comment-2372 Suzie Plen, Ugggg, based on the material I've read and this from NAR (The National Association of Realtors) you missed is by 2 days. The bill was signed November 7th. To be sure, check with your CPA.<br><br>Here's the Q&A<br><br>Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and<br>am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?<br><br>Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement. Suzie Plen, Ugggg, based on the material I've read and this from NAR (The National Association of Realtors) you missed is by 2 days. The bill was signed November 7th. To be sure, check with your CPA.

Here's the Q&A

Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and
am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?

Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.

]]> By: Ken Brand http://www.brandcandid.com/2009/11/07/nar-frequently-asked-questions-about-the-homebuyer-tax-credit-changes/comment-page-1/#comment-2371 Ken Brand Wed, 18 Nov 2009 15:50:44 +0000 http://www.brandcandid.com/?p=3287#comment-2371 Suzie Plen, Ugggg, based on the material I've read and this from NAR (The National Association of Realtors) you missed is by 2 days. The bill was signed November 7th. To be sure, check with your CPA.<br><br>Here's the Q&A<br><br>Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and<br>am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?<br><br>Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement. Suzie Plen, Ugggg, based on the material I've read and this from NAR (The National Association of Realtors) you missed is by 2 days. The bill was signed November 7th. To be sure, check with your CPA.

Here's the Q&A

Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and
am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?

Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.

]]> By: suzielpenn http://www.brandcandid.com/2009/11/07/nar-frequently-asked-questions-about-the-homebuyer-tax-credit-changes/comment-page-1/#comment-2369 suzielpenn Mon, 16 Nov 2009 15:57:48 +0000 http://www.brandcandid.com/?p=3287#comment-2369 I sold my home in 2008 and bought a new one in which I closed on it Nov. 5 2008 for a less amount. Am I eligible for the 6500 tax credit for 2008 tax return to amend? Our combined modified taxable income is 141,000. I sold my home in 2008 and bought a new one in which I closed on it Nov. 5 2008 for a less amount. Am I eligible for the 6500 tax credit for 2008 tax return to amend? Our combined modified taxable income is 141,000.

]]> By: uberVU - social comments http://www.brandcandid.com/2009/11/07/nar-frequently-asked-questions-about-the-homebuyer-tax-credit-changes/comment-page-1/#comment-2365 uberVU - social comments Mon, 09 Nov 2009 15:07:19 +0000 http://www.brandcandid.com/?p=3287#comment-2365 <strong>Social comments and analytics for this post...</strong> This post was mentioned on Twitter by kenbrand: Homebuyer Tax Credit FAQ from the National Association of RELATORS = Some details you need to know: http://su.pr/203Ak7... Social comments and analytics for this post…

This post was mentioned on Twitter by kenbrand: Homebuyer Tax Credit FAQ from the National Association of RELATORS = Some details you need to know: http://su.pr/203Ak7...

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