Extended and Expanded Homebuyer Tax Credit 12/1/2009 - 4/30/2010
Don't miss out on the extended and expanded homebuyer tax credit!
Key Points:
- Extends the First Time Home Buyer Credit of up to $8000 to first time home buyers until April 30, 2010. Must not have owned a primary home in the past 3 years to qualify. - Expands the credit to grant a $6500 credit to current homeowners purchasing a new or existing primary home between now and April 30, 2010 (must have a binding contract in place and close by July 1, 2010). Must have lived in the house for 5 consecutive years of the previous 8 to qualify. - Income Limit restrictions: $125,000 - single person $225,000 - married persons Additional $20,000 phase out limit on incomes - Credit may only be awarded on homes purchased for $800,000 or less. |
Consult your accountant or obtain the IRS form that explains all the particulars of this credit.
Call Ginny at 529-7849 or Dave at 465-1327 to get started now - we are the Home Town Experts in Southern Rhode Island!