San Diego, California $6,500 Long-Time Resident Homebuyer Tax Credit

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Real Estate Agent with Whissel Realty CA BRE# 01387176

Did you know that if you buy a home in San Diego, California, you could be eligible for an $6,500 tax credit? That’s right, $6,500 and it’s a credit, not a write-off. What this means to you is that if you field your taxes and were expecting a $2,000 refund from the IRS, you would now be receiving a $8,500 refund as a result of this credit.

$6,500 Long-Time Resident Homebuyer Tax Credit in San Diego, California

You may have heard about the $8,000 first-time homebuyer tax credit in San Diego and been saddened when you heard that this credit was only for first-time homebuyers. Now your in luck as theIRS has shown a little love to long-time resident homebuyers as well in the form of a $6,500 tax credit.

You may be asking yourself, “What is the definition of a Long-Time Resident Homebuyer?”. According to the IRS.Gov:

“To be considered a long-time resident homebuyer you and your spouse – if you are married – must have lived in the same principal residence for any consecutive five-year period during the eight-year period that ended on the date the new home is purchased. Additionally, your settlement date must be after November 6, 2009.”


To read the rest of this post, read our blog by clicking the link below:

San Diego Real Estate Agent Blog

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Topic:
Home Buying
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California San Diego County
Tags:
firsttime homebuyer
san diego homes for sale
san diego real estate agent
san diego homebuyer
san diego tax credit

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Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Hope people take advantage of the tax credit. Good luck in 2010.

Feb 09, 2010 08:42 AM #1
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Rainmaker
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Kyle Whissel

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