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Tax.appeal.168, Tax Accountant
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Are there any tax credits currently for first time home buyers

Resolved Question:

Are there any tax credits currently for first time home buyers in California?
Submitted: 5 years ago.
Category: Tax
Expert:  Tax.appeal.168 replied 5 years ago.
Hello, THANK YOU for choosing Just Answer. My goal is to help make your life...a little...LESS taxing.

At this time there are no tax credits available. FTB stopped accepting New Home applications as of midnight Sunday, August 14, 2011. All applications have been processed. Although the $100 million for New Home Credit was not fully allocated, the credit was only available for buyers who closed escrow on or before July 31, 2011 and sent applications within 14 days after escrow closed. In addition, new homes closing escrow in 2011 were only eligible for the New Home Credit if the home was purchased pursuant to an enforceable contract executed on or before December 31, 2010. (Updated 09/08/11)

You can refer to the following Franchise Tax Board Webpage for more information.
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