two questions: one. Will the tax credit be extended? two. is the 10K off of taxable income or off of tax owed?

You are in California so you are eligible for the $10,000 tax credit if you purchase a $200,000 property or higher. The tax is based on the amount owed and credited over 3 years at $3,333 each year. Contact me to discuss. Gregorio Denny --WeFixRates.Com --

Haven't heard anything about it being extended. And the credit would come off the tax owed to the IRS.

The House just OK'd the extension yesterday. The Senate may bring this to a vote today or very soon. The CA tax credit has been explained in this thread. .... Happy funding, Rudi