tax credit: Guidelines for the Tax Credit, Time is running out.
- 02/09/10 11:14 AM
$8,000 First-time Home Buyer Tax Credit at a Glance The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase. The tax credit does not have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase. The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000. The tax credit … (1 comments)
$8,000 First-time Home Buyer Tax Credit at a Glance
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