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Home > $8,000 Home Buyer Tax Credit at a Glance

$8,000 Home Buyer Tax Credit at a Glance

August 7, 2009 by vleeson Leave a Comment

The information in this blog pertains to 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.

 

$8,000 tax credit deadline is coming! Get your first-time home buyers credit before it’s too late! Contact any member of My Arizona Home Team to get started!

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