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Real Estate Property - Homebuyer Tax Credit
The first-time homebuyer credit is a tax credit for individuals and couples who purchase a new home after April 8, 2008, and before May 1, 2010. There are several versions of the credit depending upon when the home was purchased:
The credit is 10 percent of the purchase price of the home, with a maximum available credit of $7,500 for either a single taxpayer or a married couple filing a joint return, but only half of that amount for married persons filing separate returns. The full credit is available for homes costing $75,000 or more ($80,000 in 2009 or early 2010)
Starting November 7, 2009 the tax credit was expanded and extended by adding an additional category of new homebuyers, long-time residents (who owned their own homes), was added. The credit for this group is a maximum of $6,500, which, with some exceptions, does not have to be repaid.
Should you buy now before tax credit goes “poof” and disappears?
CLICK HERE to read how homebuyers are taking advantage of this tax credit
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Homebuyers Rush to Get Tax Credit is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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