council bluffs homes for sale: $6500 Tax Credit - Time Frame
- 01/14/10 01:36 AM
You must have lived in the same principal residence for any five-consecutive-year period during the eight-year period that ended on the date the replacement home is purchased. For example, if you bought a home on Nov. 30, 2009, the eight-year period would run from Dec. 1, 2001, through Nov. 30, 2009. NP Dodge Real Estate Blog Author - Robert Wiebusch … (0 comments)
council bluffs homes for sale: Military members get an additional year to use housing tax-credits!
- 12/17/09 05:50 AM
Below are a few Special Added Benefits for Members of the Military, the Foreign Serviceand the Intelligence Communities... Congress has acknowledged the unique circumstances affecting members of the military, the foreign service and the intelligence community by making the following exceptions that apply to both the $8,000 tax credit for first-time home buyers and the $6,500 tax credit for repeat home buyers. Exemption From Tax Credit Recapture Rules: Typically, homes that are sold or that cease to be used as a principal residence within three years of the initial purchase are subject to recapture of the tax credit. However, qualified … (0 comments)
council bluffs homes for sale: The $6500 Tax Credit in Layman Terms from NP Dodge
- 11/25/09 02:57 AM
Here is the scoop and a great 'understandable' reference guide for the $6,500 Current Home Owner Tax-Credit: Who is eligible to claim the $6,500 tax credit?Qualified move-up or repeat home buyers purchasing any kind of home are eligible to claim this credit. You can move up, down, sideways...There are no restrictions on what type of home you buy, it just has to be a personal residence so you could sell a million dollar home and buy a townhome for $150,000 and as long as you meet all the other limitations you qualify for the $6,500 tax-credit. What is the … (1 comments)
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