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Changes to 2009 Forms

Updates to the Form 3528 on 02/04/2010 –– New Home Credit

We replaced text on the 3528 on:

  1. Page 1, What's New paragraph, Sentence 1
  2. Page 2, Column 1, Credit Allocation Process

Previous Version

  1. For taxable years beginning on or after March 1, 2009, and before March 1, 2010, a new credit against the net tax was allowed in an amount equal to the lesser of 5% (.05) of the purchase price of the qualified principal residence or ten thousand dollars ($10,000).
  2. The FTB accepted form FTB 3528-A, Application for New Home Credit, by fax only from March 1, 2009 through July 2, 2009.The applications were processed on a first-come, first-served basis. Form FTB 3528-A is no longer available and the FTB is no longer accepting applications. California only allowed $100 million to be allocated to buyers. The full $100 million has been allocated.

Revised Version

  1. For taxpayers who purchased a qualified principal residence on or after March 1, 2009, and before March 1, 2010, a new credit against the net tax was allowed in an amount equal to the lesser of 5% (.05) of the purchase price of the qualified principal residence or ten thousand dollars ($10,000).
  2. The FTB accepted form FTB 3528-A, Application for New Home Credit, by fax only from March 1, 2009 through July 2, 2009.The applications were processed on a first-come, first-served basis. Form FTB 3528-A is no longer available and the FTB is no longer accepting applications. California only allowed $100 million to be allocated to buyers. The full $100 million has been allocated.

Questions

  • Accepted credit application — Contact Withholding Services and Compliance at:
    888.792.4900 (press 5)
    916.845.4900
    Email: wscs.gen@ftb.ca.gov
    This is not a secure email address. Please do not send confidential information.
  • General Information: See page 3, General Phone Service

Reason for the changes

  1. This language is incorrect because taxpayer’s can claim the credit on their 2009 tax return. The new home credit is allowed for taxpayers who purchase a qualified principal residence on or after March 1, 2009, and before March 1, 2010; however the credit can be claimed for taxable years beginning on or after January 1, 2009.
  2. Taxpayers are calling the general information phone number for questions regarding the credit allocation application. For questions regarding the application, taxpayers should call Withholding Services and Compliance Section. This information was not originally included in this publication so it is being added.

Impact

  1. Calendar year filers are excluded from claiming the credit on their 2009 tax return, potentially causing an increase to their tax liability.
  2. No tax impact.

Back to Tax Form Changes for 2009