First-Time Home Buyer Tax Credit
Home Tax Credit at a Glance Frequently Asked Questions The Law’s Other Provisions Video & Buyer Resources

$8,000 Home Buyer Tax Credit at a Glance

The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
 

1)  The tax credit does not have to be repaid.

2)  The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.

3)  The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

4)  Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
 

Check out this link: http://www.federalhousingtaxcredit.com/2009/glance.php 

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