$8,000 Tax Credit for First -Time Homebuyers....JUST PASSED!
Thursday, February 26, 2009 at 2:27PM | Stephanie Salvatori
THIS IS MONEY IN YOUR HAND AS A TAX CREDIT!!
THAT IS NOT PAID BACK!!!
WHO IS ELIGIBLE:
First-time home buyers who buy a home between January 1, 2009 and December 1, 2009 are eligible for a Tax Credit equal to 10 percent of the purchase price up to a maximum of $8,000.
FIRST-TIME HOME BUYER = ANYONE WHO HAS NOT OWNED A PRINCIPAL RESIDENCE FOR THE PAST THREE YEARS!
INCOME LIMITS:
This Tax Credit amount is reduced for buyers with a modified adjusted gross income of more than $75,000 for single taxpayers and $150.000 for married taxpayers filing a joint return. The tax Credit amount is reduced to zero for taxpayers with a modified adjusted gross income of more than $95,000 (single) or $170,000 (married) and is reduced proportionally for taxpayers with modified adjusted gross income between these amounts.
This Tax Credit does not have to be paid back as long as the home remains their primary residence for 36 months after the purchase date.
For futher details visit the www.IRS.gov website at http://www.irs.gov/newsroom/article/0,,id=204672,00.html
Stephanie Salvatori, REALTOR
(386) 479-8146
