The $8,000 Buyer Tax Credit

by Osman Parvez

It's tax season so here's a little information on that $8,000 credit for home buyers.

Eligible buyers are defined as those who have not owned a home in the previous three years (i.e have been renting). The tax credit is refundable, meaning it applies even if you don't have tax liability. There are income restrictions. You must also hold onto the house for at least three years or face recapture. The purchase must be made after January 1, 2009 and before December 1, 2009.

There are additional exceptions, including purchases from relatives. Consult with your tax adviser before buying. Check the resources linked below for more information.

Additional resources: An article from Yahoo and more details from US. News. Detailed information and links to reference material from

Hat tip: Gabriel Heiser

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This document contains forward-looking statements. You are strongly cautioned that investment results are subject to business, economic and other uncertainties. There are no guarantees associated with any forecast and the opinions stated here are subject to change at any time. Always consult your financial advisor before making an investment decision.