Homebuyer Tax Credit
New Homebuyer Tax Credit Extended to April 30, 2010!
First Time Home Buyer
Maximum Limit: $8000
Income Limits (Modified Adjusted Gross Income):
Maximum Credit: $125,000 (single); $225,000 (joint)
Reduced Credit: $125,000 - $145,000 (single); $225,000 - $245,000 (joint)
Other Qualifications: Haven't owned a home in the previous 3 years
Current Home Owner Credit
Maximum Limit: $6500
Income Limits (Modified Adjusted Gross Income):
Maximum Credit: $125,000 (single); $225,000 (joint)
Reduced Credit: $125,000 - $145,000 (single); $225,000 - $245,000 (joint)
Other Qualifications: Owned and used the same home as a principal residence for the last 5 consecutive years of the previous 8 years leading up to the credit.
For more information, please visit http://www.irs.gov/newsroom/article/0,,id=215791,00.html
