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8,000 home buyer credit soon to expireThere's a Federal income-tax credit available to first-time home buyers for 10% of the property purchase price (up to a total of $8,000).The credit's availability is, however, about to expire.Unless the credit's legislatively extended (and I've heard nothing about its extension), no home purchase which closes after November 30 of this year will qualify.Are you a first-time home buyer?The fact you may own property which has never been your principal residence doesn't disqualify you for this tax credit.if you pay combined Federal income taxes of more than $4,600 a year and you buy a house for $460,000 … (2 comments)
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