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tax: $8,000 Home Buyer Tax Credits May Stimulate Buying - 02/11/09 10:50 AM
Recently, the Senate added a significant homebuyer tax credit to the housing stimulus plan. Here are the key elements of the plan:
*The tax credit is for the amount of $8,000.
* The tax credit is available to first-time home buyes for purchases of any home closing from 01/01/09 12/31/09.
* Able to claim the credit against the 2009 tax return. This is big to get out to clients in terms of stimulating a purchase in the early part of this year. More info on this to come.
* Buyers must occupy the home for three years as their principle residence
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Chris Deutsch

Minnetonka, MN

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