Massachusetts Form 8823 2023-2025

Massachusetts Form 8823: What You Should Know

Mass. HOUSE. CODE ANN. § 2214(c) and § 2122(c)(2); HUD's Form RC-8823 Massachusetts Department of Human Services — Mass.gov Housing Tax Credit Guide for Low-Income Homeowners — Mass.gov Guidelines for Completing the Form 8823. Housing Tax Credit Guide for Low-Income Homeowners State/Territory Tax Rates for Qualified Housing Credit — Mass.gov State/Territory Tax Rates for Qualified Housing Credit — HUD/ASIA The Housing Tax Credits for Low-Income Taxpayer — Massachusetts Department of Revenue's Income Tax Guide The Scope of Tax Credit Information for the Sales Tax on Furnished Homes (Form 8821): The scope of the information contained in this publication is limited to information regarding the Sales Tax Rates that apply to the Sales Price of a qualified housing unit that is sold in Massachusetts. The information contained in this publication about the Sales Tax Rates applies only to the federal Income Taxes and any Massachusetts state or local income tax imposed on those sales. The only use here of the information in this publication to determine a tax rate other than that described is in the calculation of Net Income Tax Rate (NIR) to determine your deduction from your income. The Information in the publication does not contain any information about any local tax, real estate tax or any other property taxation on qualifying housing units that are sold in Massachusetts. A. The Sales Price of a Qualified Housing Unit Must Be 150,000 or More for Sales Tax. 1. The Sales Price of a Qualified Housing Unit Must Have A Single Residence, as Determined under Section 715(6). 2. The Sales Cost of a Qualified Housing Unit, as determined under Section 715(3), must Have No Gross Operating Losses, net of Federal and/or State Section 13(a), 15(d), or 16(b) taxes. 3. The Sales Price of a Qualified Housing Unit must Include the Total Sales Price of All Equipment and Furnishings for the Qualified Housing Unit.  3. The Sales Price of the Qualified Housing Unit (excluding, of course, any inventory costs) must Be 150,000 or More. The Sale Price of Qualified Housing. Massachusetts Sales Tax Manual A.

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