Legal Question in Real Estate Law in California

consult a CPA.

I would suggest re-posting this question to a tax attorney, as this is an income tax specific question, and not really a real estate question. I do recall that for the existing tax credit, you must have purchased, or be under contract to purchase the property by the cut off date, and that you must then also close escrow within a certain time. I would also suggest that you ask the tax attorneys if that is in fact the correct cut off date. I seem to recall it was a different date than May 1, but again, I am not a tax attorney, and am not responding to provide you with tax advise.

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