The Ohio Association of Realtors has put together a brochure with updated details regarding the new tax credit for first-time home buyers. The brochure is available for download and contains answers for questions such as:
If I haven't filed my 2008 tax return yet, can I claim the credit for a home purchased on Jan. 1, 2009? The answer is YES! You can claim it on the return due April 15; file for an extension; or even amend a previously filed return.
Do I have to repay the tax credit? No as long as you stay in the home for three years.
Is there an income restriction? Yes...$75,000 for single or head of household; $150,000 for married couples filing jointly.
Visit www.reshowcase.com/tax-brochure to download the brochure...