|
2009-2010 Tax Credit Information
The $8000 First-Time Homebuyer Tax Credit that was set to expire on November 30th has been extended through April 30, 2010. Qualified first-time homebuyers must have a contract on a home by April 30, 2010 and close no later than June 30, 2010 to receive the credit. All of the same qualifications as the original credit do apply.
The bill signed in to law in November also extends a tax break to current homeowners who wish to purchase a new home. Homeowners who have lived in their primary residence for five consecutive years of the past eight years could qualify for up to a $6500 tax credit if they purchase a new primary residence before the deadline.
In addition, the legislation will extend the deadline dates for our military personnel who have been deployed overseas for 90 or more days in 2008 and/or 2009. Those qualified military personnel will be able to receive either credit until April 30, 2011!
There are restrictions and regulations as to who qualifies for the various credits. Contact us with any questions or view the additional resources below.
Federal Tax Credit Website
National Association of Realtors Tax Credit Comparison | 
