2009 First-Time Homebuyer Tax Credit

August 6, 2009 at 7:12 pm 2 comments

2009_$8000_Tax_Credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The above chart includes the major modifications to the home-buyer tax credit effective 2009. There are more details and requirements for the credit that are not listed but can be found at http://www.irs.gov/newsroom/article/0,,id=187935,00.html or

http://www.federalhousingtaxcredit.com/2009/faq.php

© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2008-2010. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

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2 Comments Add your own

  • 1. Josh  |  August 6, 2009 at 8:23 pm

    You may want to correct the chart. For the revised credit, repayment depends on principal residence status, not sales date. I have to give the monay back if I start to lease the place out, but do not sell. IRS.gov states “The obligation to repay the credit on a home purchased in 2009 arises only if the home ceases to be your principal residence within 36 months from the date of purchase. “.

    Reply
    • 2. nelsonproject  |  August 7, 2009 at 3:54 pm

      Yes, you are correct about having to pay the money back if you end up moving before 3 years and we have added a link to the IRS website in the blog to provide more information. The chart is explaining that as long as you purchase between those dates in 2009 you don’t have to pay it back compared to 2008 when you did have to.

      Reply

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© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2008-2010. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

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