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$8,000 Home Buyer Tax Credit at a Glance
- The tax credit is for first-time home buyers only.
Who is a first time home buyer? A person who has not owned their own home in the last 3 years.
- The tax credit does not have to be repaid
- The tax credit is equal to 10 percent of the home's purchase up to a maximum of $8,000
- The credit is available for homes purchased on or after January 1, 2009 and before April 30, 2010 - purchase to be completed by June 30, 2010
Single taxpayers with income up to $115,000 and married couples with income up to $225,000 filing jointly qualify for the full tax credit
The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).
If you have any questions - knowledge is power - call me!!
http://www.federalhousingtaxcredit.com/
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