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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 About.com.
Hat tip: Gabriel Heiser
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
Ready to buy or sell? Schedule an appointment or call 303.746.6896.
You can also like our Facebook page or follow us on Twitter.
As always, your referrals are deeply appreciated.
--
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
