Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, March 30, 1994 TAG: 9403300174
SECTION: VIRGINIA PAGE: A-5 EDITION: METRO
SOURCE: Mag Poff
DATELINE: LENGTH: Short
I'm not familiar with the new changes. You're sharing good news with me. I like that - That's wonderful. "That's just another boost to the home buyer. The seller couldn't take the deduction; he just rolled it over as the cost of a sale."
Kenneth L. Prickitt of Young & Prickitt, president of the Roanoke chapter of the Virginia Society of Certified Public Accountants:
"It's late in the game to be coming out with changes in the tax law. Many people have already filed their income tax returns. A lot of people might want to re-examine the impact. If you have already filed a return, there's no point in asking for a change right here in the midst of the busy season. You can file an amended return for this and other years after April 15.
"It will affect quite a few people. There are going to be amended returns filed. Most CPAs will say, let's wait until after April 15 if the 1993 return has been filed. If you haven't filed, look at it now to avoid filing an amended return."
Denny Early, vice president and western region manager for Crestar Mortgage Co., Roanoke:
"I would think it would help the purchaser more than anyone else. I can't see where it's going to make a whole lot of difference for us. The situation of a seller paying part of the points arises fairly often. I can't see where the rule would change anything for us."
by CNB