$6,500 Tax Credit for CURRENT Homeowners

The Federal Government on November 7, 2009, extended and EXPANDED the housing TAX CREDIT to include $6,500 for current homeowners that qualify:

1. Current Homeowners that have lived in their PRINCIPLE residence for 5 out of the past 8 years
2. Tax credit is equal to 10% of the price of the home up to a maximum of $6,500
3. Homes above $800,000 do not qualify
4. Income limits of $125,000 for single, $225,000 for married taxpayers (phase out program up to $20,000 above)
5. Accepted contract on the home by April 30, 2010
6. Close on the home by June 30, 2010
7. Use IRS form number 5405 to claim

If you have any questions about this tax credit, or the First Time Home Buyers $8,000 Tax Credit, simply send me an e-mail or give me a call.

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