IRS Revenue Procedure 2009-18: Nationwide Average Purchase Price for Residences

Revenue Procedure 2009-18 provides issuers of qualified mortgage bonds, as defined in section 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in section 25(c), with (1) the nationwide average purchase price for residences located in the United States, and (2) average area purchase price safe harbors for residences located in statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam.
 
Revenue Procedure 2009-18 will be published in Internal Revenue Bulletin 2009-9 on March 2, 2009.

Posted by Min Young Choi, Associate Editor, Wealth Strategies Journal.