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I'm fielding a lot of questions about the homebuyer tax credit for repeat buyers and thought it worthwhile to answer individual questions as they come up. My last post in this "series" was to cover the question that you don't need to sell your home to qualify for the repeat homebuyer tax credit.The question I got asked today was what the phase out range is on income limits for repeat homebuyers. I should mention that when it comes to income, the rules are same for First Time Homebuyers and Repeat Buyers.First of all, it is the MAGI (Modified Adjusted Gross Income) … (0 comments)
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