Treasury is reviewing the recently enacted tax law changes, including the new Marijuana Wholesale Tax. Developing clear and accurate information for tax stakeholders is our top priority. This guidance will be posted to our website in the coming weeks.
What documentation should I submit if I am the account holder?
The account holder must submit the following documentation for the first-time home buyer savings account with their income tax return:
- Account statements that show the contributions made during the tax year and the taxable interest or earnings on the account in the tax year for which the deduction is claimed
- Upon withdrawal of funds from the account, a copy of the real estate settlement statement that shows the withdrawal was used for eligible costs
- The Form 1099 issued by the financial institution for the account for the tax year in which the deduction is claimed.