Housing and Economic Recovery Act of 2008
New Homebuyer Tax Credit - For qualifying home purchases after April 11, 2008 and before July 1, 2009, the act provides eligible first time homebuyers a refundable tax credit equal to the lesser of 10% of the purchase price of a principal residence or $7,500 ($3750 for married individuals filing separately). A taxpayer is considered a first-tiem homebuyer if he (or spouse, if married) had no ownership interest in a principal residence during the 3 year period before the purchase of the home to which the credit applies.
December 5th, 2008 at 7:27 pm
first time home buyer…
Interestingly, this was on CNN last week….