First Time Home Owners Tax credit has been extended.

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Monday, 09 November 2009

First Time Home Owners Tax credit has been extended.

The 1^st time home buyer credit has been extended AND there is an additional provision for a tax credit to NON-1^st time home buyers.

The house your clients are buying has to be under contract by April 30, 2010.
It has to close by JULY 1, 2010.
1^st time home buyers still get an $8,000 tax credit.
Non-1^st time home buyers get a $6,500 tax credit IF they have lived in their home consecutively for 5 out of the last 8 years.
Income limits have been raised to $125,000/yr. for a single person and $225,000/yr for couples.

POSTED BY: Denise Harper AT 10:32 am | Permalink | E-mail this

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