$8000 Tax Credit For Home Buyers
As part of the American Recovery and Reinvestment Act of 2009, new home owners may be able to get a $8,000 tax credit if they qualify. The tax credit is worth $8,000, or 10% of the home value, whichever is lower. Qualifications include:
- You must be a first time home buyer
- You must purchase by April 30, 2010
- The home must become your primary residence
- Income must be less than $75000 for individuals and less than $150000 for married couples
CNN also provides additional details here on the tax credit.
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