2009 Home Buyer Tax Credit – Simplified
The 2009 homebuyer tax credit simplified:
– Must be 1st time home buyer.
(defined as someone who hasn’t owned a house in 3 years)
– The credit is for 10% of sales price
( not to exceed $8,000)
– Must close on the home between 1-1-2009 and 11-30-2009.
– The home must be your primary residence.
– The home must be a single family residence.
– You must meet income requirements .
(less than $75,000 for single and less than $150,000 for joint)
– The tax credit is applied to your tax liability.
– Any unused tax credit is refunded to you.
– Does not have to be repayed.
(unless you sell the home before 3 years time)
For more information click here.
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