Tax-loss harvesting has risen in popularity. BofA says the strategy could give a boost to underperforming stocks from November to January. Read More...
Reuters
U.S. Treasury sets new tax credit rule to expand affordable housing
The U.S. Treasury moved to preserve and expand the supply of affordable housing on Friday by finalizing a new tax credit income rule that may qualify more housing projects and extending deadlines for when they must be placed in service. Previously, projects qualifying for the tax credit, which can offset up to 70% of an affordable housing project’s costs, needed to make at least 20% of the units available to residents earning 50% of the local area’s median income (AMI) or 40% of the units at 60% of AMI. Dave Borsos, vice president of capital markets at the National Multifamily Housing Council, an industry trade group, said the change would keep more low-income people in such units even if their income rises slightly.
