BUYER'S - you may be eligible for an $8000 tax credit in 2009 . If you purchase a home between Jan 1 2009 and Nov 30, 2009 and have not owned a home in the past 3 years the presidents new stimulas bill may be for you. Check out more information at
http://www.usnews.com/articles/business/real-estate/2009/02/26/new-home-buyer-tax-credit-7-things-you-need-to-know.html
Subscribe to:
Post Comments (Atom)
1 comment:
Regarding the 8000 dollar Tax stimulus that some one posted about, I am so incensed with this administration. I am an average house wife with a husband who is breaking his back working to support our kids and paying rent. So we were really looking forward to buy our own house and then we heard about this "stimulus bailout". The devil is indeed in the details..
According to this site
http://www.techbanyan.com/3613/8000-tax-credit-first-time-home-buyer/
This housing "credit" isn't stimulus at all. Don't be upset. You thought you were going to get 15K right off the bat? Think again.
Assuming you qualify (buyers in 08 will get the shaft),
1) The sum of WHATEVER the housing credit is (they seem to change it everyday) will BE SPLIT into two tax returns. Hence, two years.
2) The biggest catch of em all is, YOU MAY NOT BE ELIGIBLE for that full credit!! IT depends on your TAX LIABILITY. So the higher your income, the closer you will be to getting the full credit.
3) You can claim this credit in the 2008 tax return (even though you've purchased in 09)
4) You do not have to repay this credit.
5) You do not have to be a first time home buyer for this credit.
Post a Comment