Home sales down

The National Association of Realtors said that existing home sales fell last month to a seasonally adjusted annual rate of 4.57 million units, 3% lower than the downwardly revised rate of 4.71 million in February.

March sales were down 7.1% year over year, and came in weaker than the 4.65 million rate forecast by analysts surveyed by Briefing.com.

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CA renter's credit is back in 2008

What is and how do I qualify for the Nonrefundable Renter's Credit?

The Nonrefundable Renter's Credit is a personal income tax credit that can only be used to offset your tax liability; therefore, you must have a tax liability to claim the credit.

You qualify for the Nonrefundable Renter's Credit if you meet all of the following:

• You were a resident of California in 2008.
• Your California adjusted gross income (AGI) is $34,936 or less if your filing status is single or married/registered domestic partner filing a separate return; or $69,872 or less if you are married/registered domestic partner filing jointly, head of household, or qualified widow(er).
• You paid rent for at least half of 2008 for property in California that was your principal residence.
• You did not live with another person for more than half the year (such as a parent) who claimed you as a dependent in 2008.
• You are not a minor living with and under the care of a parent, foster parent, or legal guardian.
• You rented property for more than half the year that was not exempt from California property tax in 2008.
• If you are married, neither you nor your spouse/registered domestic partner was granted a homeowner's property tax exemption during 2008. (You can still qualify for the credit, even though your spouse/registered domestic partner claimed a homeowner's exemption, as long as each of you maintained a separate residence for the entire year in 2008).

Related information: Also see Homeowners and Renters Assistance. This is an assistance program available to qualifying senior and disabled individuals.