Were you late to the party and now you're so sad that the federal first time homebuyer tax credit passed you by? Don't dispair! Come on down to DC! We still have a $5,000 first time buyer tax credit. Are you buying a primary residence? Is this the first house you've owned in the District in the past year? If you answered "YES!" to both of these questions, then you likely qualify. Unlike the federal first time homebuyer credit, this one is non-refundable. That means if you don't use it all, you don't get the remainder back in the form of a refund. However, you can carry the excess forward to a future tax year. The credit phases out at $90,000 in modified adjusted gross income for individuals, and $130,000 for married couples filing a joint return. Why make the long commute from the suburbs every day AND miss out on five grand? Bring it on down to DC today. Give me a call and let's talk!
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