- Don’t miss the
deadline for the 2010
Home Buyer Tax Credit!
Time remaining: - You must have a signed contract by April 30, 2010 and close by June 30, 2010
The deadline is fast approaching to cash in on the 2010 Home Buyer Tax Credit! Here are a few things to remember.
Qualified first time home buyers will receive $8000 tax credit
- Qualified first-time home buyers receive $8000 tax credit if they sign a purchase contract by April 30, 2010 and close by June 30, 2010. Be sure to allow plenty of time before April 30th for an inspection and negotiations for repairs, as well as other due diligence items!
- The home purchased must be their primary residence
- To be considered a first-time home buyer, you cannot have owned a home during the past three years
- Tax credit is up to 10% of the home value (not to exceed $8,000)
- You cannot earn more than $125,000 for single filers and $225,000 if filing jointly. Partial tax credit can be granted for incomes up to $145K for single filers / $245K for joint filers.
