First-Time Buyer Tax Credit
It’s been in the news, talked about, and discussed, but this flyer gives a great summary of what 2009 buyers can expect!
First, this credit does not follow the calendar year! It expires December 1, 2009 and is a reduction to your tax liability, not a check sent to you because you purchased a home.
There are also income caps. If you are single, the cap is $75,000 and joint filers it is $150,000, and you need to stay in the home for three years. Unlike 2008, this is a true tax credit, and does not have to be repaid as long as the three year requirement is met.
Take a moment to download this PDF and feel free to call me with your questions!
You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
