1st time home buyer, I made 65K in '08', now I am making 83K. Do I still qualify for the 8k home buyer credit?

Asked by Joseph, Boston, MA Tue Aug 4, 2009

I read the guide lines for the first time home buyers credit program and it mentions that an individual has to be making just under 80k to earn the credit. However, I just got a raise and I am making about 83k this year. Therefore, my concern is that, do I still qualify as a candidate for the 1st time home buyer credit of 8k.

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Ken Lambert, , Exeter, NH
Tue Aug 4, 2009
Hello Joseph- I believe up to maybe $90K you can qualify up to a smaller amount on the tax credit. Meaning, maybe $4000 credit instead of $8000. It is a sliding scale IRS rule.
Keep in mind you have to CLOSE on the purchase by Nov. 30th to qualify. If I can be of any other help, please let me know. I can look up the exact details of this if you'd like. Thanks, and good luck,

Ken L.
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Irena Price, Agent, Fayetteville, NC
Tue Aug 4, 2009
The best thing to do is to consult with CPA since you have significant increase in your annual income..Good luck
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