Archive for the ‘Legislation’ Category

The home buyer tax credit has been extended to April 30, 2010.  That is, you must be under contract by that date.  Then the government gives you until June 30, 2010 to actually close on the purchase.  $8k is a good deal to take advantage of while interest rates are hovering around 5%, an all time low for decades!  This tax credit is for owner-occupants and every buyer should check with their CPA for applicability to their situation.

Buy a duplex or a fourplex and let the government help with your investment!  We have posted some new duplex reports at http://www.duplexdianne.com.

Thanks for reading.

Hong Lee/The Duplex Dianne Team


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With all the talk of the $8,000 tax credit for home buyers, not much is said about duplexes.  Does the $8k apply in full if the buyer owner occupies their duplex?  Or does it only apply by half at $4,000?  I checked with my CPA and the tax credit is based on 10% of the purchase price.  So if one half of a duplex exceeds $80k, then the buyer should qualify for the entire credit based on the total purchase.    Or another way is to figure % owner occupied based on total square feet and apply that 10% formula to the purchase price.

By the way, the tax credit for buying expires November 30, 2009.

Hong Lee/Duplex Dianne Team

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