The Federal Tax Credits Blog

Posts Tagged ‘bookmarks’

Bringing Clarity 2 – Disability Tax Credit & CPP Disability Benefit Advocates

Macroeconomics of Taxes and Tax Reform [Roger W. Garrison]

Home Buyer Tax Credit

Question: 2009 $2500 Tax Credit for college students, can someone explain please?

I am graduating in May 2009 (this year) and I heard about the $2500 tax credit. How does this affect me and will I get any $$ out of this? I am really confused, i keep hearing different explanations! I have taken out private and student loans, work in a work study program, and am a dependent of my parents ( though i’ve paid for college myself). thanks!

Answer: If you aren’t claimed on your parent’s taxes and file your own taxes, you will be able to take the tax credit for 2009. Tax credits are subtracted directly from the tax a family or student owes. You had to have made enough to be taxed $2500 in order to benefit from this credit.

Hope this helps!

“What I Like About My School”: Nonpublic school students speak

Question: Qualify for 2009 Homebuyer Tax Credit?

I have a buyer (I am a realtor) that is interested in buying a duplex property. Her and her husband plan to live in one side and rent out the other. Would they qualify for the $8000 tax credit?
Note: All other eligibility requirements have been met.

Answer: You should know this. The credit is for single family homes only, no investment property.