$8,000 Tax Credit for First-time Home Buyers
By James Wedgeworth on June 10th, 2009There is some great news for first-time home buyers in 2009!
WHO is eligible? First-time buyers or anyone who has not owned a home in the 3 years prior to a purchase of a primary residence may qualify for this tax credit of up to 10% of the purchase price or $8,000 – whichever is less. To qualify for the full credit, the buyer’s modified adjusted gross income must be less than $75,000 for single taxpayers and $150,000 for married taxpayers filing joint return.
WHAT qualifies? A primary residence is the one you live in most of the time. It can be a house, houseboat, housetrailer, cooperative apartment, condominium, or other type of residence.
WHEN does this apply? The $8,000 tax credit is available for qualifying home purchases made from January 1, 2009 until December 1, 2009.
Click here to receive more information on this opportunity. If you are interested in learning how to take advantage of the fantastic real estate opportunities on Hilton Head, please let us know - or click here to visit Hilton Head’s best buys!