First-Time Home Buyer Tax Credit – 2009
- The tax credit is available for first-time home buyers only. To be a First Time Home Buyer, you cannot have owned a home in the last three years.
- Tax credit =10 percent of the home’s purchase price
- The maximum credit amount is $8,000.
- The credit is available for homes purchased on or after January 1, 2009 and before
December 1, 2009. - Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
- The tax credit does not have to be repaid.
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