Massachusetts H3216 provides a tax credit for sellers of residential properties to first-time home buyers.
Massachusetts H3216 amends the state's tax code to allow a credit against taxes for sellers of residential properties to first-time home buyers. The credit is equal to 50% of the capital gain income from the sale, up to a maximum of $7,500. The credit applies to properties with a sale price under $750,000 and containing four or fewer residential dwelling units.
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