Take advantage of the $8,000 first time buyer credit. Deadline is November 30, 2009
Author: Jim Murphy
Written On: Sat, 26 Sep 2009
Did you know that you will be eligible to received an $8,000 credit if you are a first time buyer or you have not purchased a home in three years? This credit is only available for your primary residence.
The IRS has provided the following information regarding the tax credit.
First-time home buyers may be able to take advantage of a tax credit for homes purchased in 2008 or 2009. The credit:
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Applies to purchases that close after April 8, 2008, and before Dec. 1, 2009.
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Applies only to homes used as a taxpayer’s principal residence.
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Reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.
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Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.
The credit is claimed using Form 5405.
You have until Nov. 30, 2009 to take advantage of this credit.
For more information, please contact Abbott and Caserta Realtors e-mail us at info@njhouse.com.
Abbott and Caserta Realtors
10 Sycamore Ave.
Ho Ho Kus, NJ 07423
info@njhouse.com
