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Monamarie Mccreary, SFR's Blog

By Monamarie Mccreary, SFR | Broker in Clackamas County, OR

Home Buyer Tax Credit Expiration Date

If you or anyone you know are interested in taking advantage of the Homebuyer Tax Credit you need to have a signed purchase agreement by April 30, 2010 with the exception of Armed Service, Intelligence & Foreign Services who were out of the country in 2009. They have an additional year. http://www.realtor.org/press_room/news_releases/2009/11/armed_services
 
This tax credit also goes up to $6,500 if you have owned your current home and lived in it for 5 years: sell and buy another one. The income limitations are: adjusted modified income to $125,000 for single filers and $225,000 for joint filers.

Keep in mind this credit does not apply if you by a home from a relative.
 

Comments

By Monamarie Mccreary, SFR,  Tue Feb 23 2010, 19:17
Here are two very informative web pages with IRS with all the details.


http://www.irs.gov/newsroom/article/0,,id=215791,00.html

http://www.irs.gov/newsroom/article/0,,id=204671,00.html

Best wishes,
Monamarie McCreary

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