Tax Credit Details
January 17th, 2010
Question: Who can tell me the details about the tax credit you get for buying a house?
is it true you get a $8,000 tax credit for buying a house???
does it have to be owner occupied???
does that mean the first $8,000 of your taxes is free.
Answer: Yes, you can actually get a tax credit/refund of $8000, if you qualify under the rules. You must be a first time homebuyer (not owned a house within the previous three years prior to your purchase), and you must owner occupy the premises. The credit is reduced for higher income earners, and is also reduced unless the house is over a certain purchase price.
All the final details are not yet published, but that is the general gist of the legislation.
Better Homes and Gardens Rand Realty Launches Home Buyer Tax Credit Website
RISMEDIA, January 15, 2010—Helping home buyers easily understand the home buyer tax credit is the goal of Better Homes and Gardens Rand Realty with the launch of its new home buyer tax credit website, the company has announced. The website ( www.homebuyertaxcredit.com )…
$1,500 Tax Credit Details
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