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Form 8859 Fill in Version District of Columbia First Time Homebuyer Credit

Form 8859 Fill in Version District of Columbia First Time Homebuyer Credit

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hello this is Deirdre Brown your settlement agent serving DC Maryland and Virginia and today I'm going to talk to you about the DC reduce trepidation tax program that goes into effect on October 1st 2017 this program allows your buyer to reduce their transform recommendation tax 41.1% or 1.45% to 0.7 to 5 percent this is great news on average let's say for example if the condo or first a single-family home was priced at 350,000 it would save your home buyer about $1,300 and transform recordation taxes in order to qualify for this reduced transfer recordation tax credit your buyer will need to one be a first-time DC homebuyer and that's defined as never own property in the District of Columbia there is a slight exception if your buyer was married previously and owned property jointly with their spouse but now we're divorced and no longer have interests in that properties that are no longer entitled they are now considered first-time DC homebuyer other tha

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