first time homebuyers: Summary of the $8,000 Federal Tax Credit
- 02/23/09 05:46 AM
The American Recovery and Reinvestment Act was signed into law February 17, 2009 So what's in it for you? $8,000 Federal Tax Credit for First Time Homebuyers You are eligible for the tax credit if you purchase your first home before December 1, 2009.* The tax credit is $8,000 or 10% of the purchase price, whichever is less. The money from the credit will not help you with closing costs or a downpayment as you will receive this tax credit when you file your 2008 or 2009 taxes. You do not have to repay the $8,000 like the previous $7,500 tax credit included in the Housing and … (0 comments)
The American Recovery and Reinvestment Act was signed into law February 17, 2009
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