home buyer tax credit
Blue Fence Real Estate  |  Buy  |  Sell  |  Rent  |  Resources  |  About Us  |  Contact Us  |  Quick Search  |  Careers  |  Site Map
luxury hôm  |  My First Home  |  Rent to Own  |  Active Adult Lifestyle  |  bluefenceTV  |  The Gift of Home  |  Home Sleepover
Chicago Luxury Homes Network  |  National Luxury Homes Network  |  Chicago Relocation Network  |  Online Network

Copyright © Blue Fence Real Estate, Inc. All Rights Reserved. Privacy Policy
Design by MyEye Marketing web site design
click here for IRS information on how to apply for tax credit

Signed into law November 6, 2009

Home Buyer Tax Credit extended and
expanded into 2010

Details of the new home buyer tax credit include:

  • First-time buyers who have not had interest in a principal
    residence for three years are still eligible, and the maximum
    amount remains the same – $8,000 (or $4,000 for married
    couples filing separately).

  • Current homeowners, who have consecutively maintained the
    home they want to sell as their primary residence for five of the last
    eight years, are also eligible. However, the maximum amount for
    those homeowners is lower: $6,500 (or $3,250 for married
    couples filing separately).

  • Qualifying buyers must sign a purchase agreement by April 30,
    2010, and close before July 1.

  • The tax credit may not be used to purchase a home for more than
    $800,000. Vacation homes are ineligible.

  • The income limits to earn the maximum for both tax credits have
    been raised to $125,000 for single buyers and $225,000 for
    married couples. * All buyers who want to get the credit must
    include documentation of the purchase on their tax returns.

  • The credit is extended for through June 30, 2011, for members of
    the military serving outside the United States for at least 90 days.    

Further information regarding the tax credit may be found at: www.irs.gov

This information is provided for general awareness only, and is not
intended for the purpose of providing legal, accounting, tax advice or
consulting of any kind. Please consult with your tax professional for
complete details.