Legal Question in Tax Law in California

in 2009 there was a credit given to first time home buyers with income up to 150k regardless of the house's purchase price. the deadline to close the mortgage was december 1st, 2009.
i have started the process to purchase a house in september 2009 and closed the deal november 16, 2009. as i have filed the tax return this april, the software did not allow me the credit since on november 6th, 2009 and extension of the credit has been allowed, with an increase income bracket, but with a cap on the purchase price. my purchase price was higher than the cap.
i can't believe the first law was not grandfathered and it is so unfair for pple that closed the deals betweeen nov 6th and december 1st, 2009. now i owe money to irs that would have been covered by this credit.
what choices do i have, if any?

Asked on 7/06/10, 3:10 pm

Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

0 users found helpful

0 attorneys agreed

Don't use tax software that doesn't let you enter valid deductions or credits. Use a pen.

Answered on 7/06/10, 6:25 pm

Keywords

Match Any Match All

Country

State

Area of Law