First-time homebuyer $8,000 tax credit Tampa Bay Florida

By , July 26, 2009

 

$8,000 tax credit for first-time homebuyers will end soon.

The American Recovery and Reinvestment Act of 2009 expanded the first-time homebuyer credit by increasing the credit amount to $8,000 for purchases made in 2009 before December 1, 2009 which means that first-time home buyers have until November 30, 2009 to take advantage of this opportunity.

Who is considered to be a first-time homebuyer?

According to the IRS taxpayers who have not owned another principal residence at any time during the three years prior to the date of purchase are considered first-time home buyers for tax purposes.

For more information check out the IRS website

http://www.irs.gov/newsroom/article/0,,id=206291,00.html

November is just around the corner so if you can afford to buy now and are a first-time homebuyer keep this in mind.

~ Lana Robbins

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