Tax Credit Rebate
April 3rd, 2009
Question: Who is eligible for the 8000 dollar tax credit?
A co worker told me that only houses that is $100,000 and up are qualified for the tax rebate. Is it true or just a load of bull?
Thanks for all the answers. And I did not ask any tax advice from my co worker. He just brought that up to my attention. So I ask here to confirm.
Answer: totally untrue.
Since the credit is 10% of the purchase price, with a maximum credit of $8000, if you purchase a house for less than $80,000, your tax credit will be less than $8000. For a $60K house, the credit would be $6000.
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Burzichelli & Milam on Converting the Property Tax Rebate into a Direct Tax Credit (A-3308)
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Tags: credit, energy, home, tax, tax credit rebate for home buyers, tax credit rebate forms, tax credit rebates, taxes