$8000.00 Home Buyer Tax Credit
Posted By admin on September 4, 2009
Focusing on the good news… Just about two weeks left to be able to get this Tax Credit.
$8000.00 Home Buyers Tax Credit has helped many southern Utah first time home buyers. Including my son with his first home. This program has been a very positive part of our stimulus packages that have been put together for the housing situation. My hope is that they can push for an extension and an expansion of the credit so more people are able to receive it.
$8,000 Home Buyer Tax Credit at a Glance
Information on the American Recovery and Reinvestment Act of 2009.
- The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
- The tax credit does not have to be repaid.
- The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
- The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
- Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
Tax Credit Expires December 1, 2009
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