- The Worker,
Homeownership, and Business Assistance Act
of 2009 has extended the tax credit of up
to $8,000 for qualified first-time home
buyers purchasing a principal residence. The
tax credit now applies to sales occurring on
or after January 1, 2009 and on or before
April 30, 2010. However, in cases where a
binding sales contract is signed by April
30, 2010, a home purchase completed by June
30, 2010 will qualify.
- For sales occurring after
November 6, 2009, the Act establishes income
limits of $125,000 for single taxpayers and
$225,000 for married couples filing joint
returns.
- The income limits for
sales occurring on or after January 1, 2009
and on or before November 6, 2009, are
$75,000 for single taxpayers and $150,000
for married taxpayers filing joint returns.
Also...
up to $6,500 Home Buyer's Tax Credit for qualified move-up/repeat home buyers
- The Worker,
Homeownership, and Business Assistance Act
of 2009 has established a tax credit of
up to $6,500 for qualified move-up/repeat
home buyers (existing home owners)
purchasing a principal residence after
November 6, 2009 and on or before April 30,
2010 (or purchased by June 30, 2010 with a
binding sales contract signed by April 30,
2010).
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