Home Buyer Tax Credit Extended and Enhanced!
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 | $8,000 First-Time Home Buyer Tax Credit (Extension)
- Available for first-time home buyers only
- Does not have to be repaid (unless home is sold within 3 years)
- Credit is equal to 10% of the home's purchase price up to a maximum credit of $8,000
- Available for homes purchased on or after 11/06/09 and before 4/30/2010. Homes with a binding agreement must close before 6/30/2010
- Beginning 11/06/2009, single taxpayers with incomes up to $125,000 and couples with incomes up to $225,000 qualify for the full credit
| | $6,500 Repeat Home Buyer Tax Credit
- Available for buyers that have owned and lived in their previous home for five (5) consecutive years out of the last eight (8) years
- Does not have to be repaid (unless home is sold within 3 years)
- Credit is equal to 10% of the home's purchase price up to a maximum credit of $6,500
- Available for homes purchased on or after 11/06/09 and before 4/30/2010. Homes with a binding agreement must close before 6/30/2010
- Beginning 11/06/2009, single taxpayers with incomes up to $125,000 and couples with incomes up to $225,000 qualify for the full credit
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*Betenbough Homes does not advise on any personal income tax matters or issues. This information is provided for general guidance only and is not intended for the purpose of providing legal advice, accounting advice, tax advice or consulting advice of any kind. Consult a tax advisor for complete details.
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