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Delaware Division of Revenue

Revised Form 5403

The Delaware Division of Revenue has revised its Form 5403: Real Estate Tax Return Declaration of Estimated Income Tax, which the seller must present at the time a deed is recorded.Legal Update DE Transfer tax increase

DAR Legal Counsel Andrew P. Taylor of Copeland Taylor LLC reviews the revisions to that formin this video. Feel free to share the video with consumers.

The form is here.

 


 

 

To encourage an ongoing commitment to professional behavior and development, NAR created the C2EX platform, a mobile-compatible website for REALTORS® to expand their understanding and application of the Commitment to Excellence Competencies.  Enter the platform here.

 

 

 


Need Help Finding Forms?

Try this tip!

If you have a hard time finding the form you need in either Zipforms or dotloop, use the search button at the top of the page in the DAR forms library on either platform. Just type in the name of the form and hit “enter” on your keyboard. This should get you to the form you need in seconds!

 


The date is set for the 2019 DAR Annual Conference & Trade Show.

Save it!

September 25, 2019

 

Fannie Mae and Freddie Mac, in consultation with the Federal Housing Finance Agency, announced new mortgage origination requirements in light of the ongoing government shutdown. Read about it here

 What does a government shutdown mean for Realtors?

NAR shares some thoughts in this article.


What do you need to know about FHA loans during the shutdown?

This article can help.

 


 KCAR to Host Non-CE Capital Gains Seminar

Luciana Parker from affiliate Ward & Taylor will be discussing the new requirements on Form 5403 on Wednesday, Feb. 6, from Noon until 1 p.m. in the KCAR classroom at 860 Silver Lake Blvd, Suite 150, in Dover.

This is a Non-CE course; it will not count toward license Continuing Education (CE) credit requirements. There is no charge to attend. KCAR members may register online; others may register by contacting KCAR CEO Matt Lafferty at (302) 678-9750.


Access and Share Tutorials on
20% Deduction, Other Tax Law Changes

Watch these tutorials from NAR for help in navigating the changes.

Elimination of business entertainment deduction. 

Taking the 20 percent business income deduction. 

Changes to the mortgage interest deduction. 

Limits on state and local tax deductions. 

Curtailment of casualty deduction. 

Curtailment of moving expenses deduction. 

Retention of capital gains exclusion on home sale proceeds. 

Changes in tax rates. 

Increase in standard deduction. 

Elimination of personal exemptions. 

Doubled child credit. 


First-Time Homebuyer’s Credit Information

Effective immediately, the First Time Home Buyers Credit provides some relief to first-time homebuyers by reducing the buyer’s portion of the state transfer tax by one-half of the one percent increase levied in 2017 by the General Assembly. A cap on the purchase price is set at $400,000, and the maximum credit that can be claimed is $2,000. First-time homebuyers who paid the full tax after August 1, 2017, can apply for a refund.

To qualify as a first-time buyer, individuals must have no record of owning a direct, legal interest in residential real estate. In addition, all first-time buyers must intend to occupy the property as their principal residence

Information on credit qualifications, FAQs, and forms can be found here. Also on that page is the number for Taxpayer Assistance. For more information, brokers may contact the DAR Legal Hotline; instructions are here. Buyers may also contact their accountant.


 

 

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