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The American Recovery and Reinvestment Act of 2009
If you are a first time home buyer, or have not owned a home in the last three years, you may qualify for a tax credit in 2009! If you qualify, you would be eligible for a credit equal to 10% (up to $8,000) of the purchase price of your home. Keep in mind, this credit is only available until December 1, 2009, so if you are considering a purchase within the next few years, you may want to take advantage of this opportunity NOW! For more information, please click HERE or contact Brent Forsberg at 517-202-7572.
$8,000 Home Buyer Tax Credit at a Glance
The information on this page pertains to the American Recovery and Reinvestment Act of 2009.
The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
The tax credit does not have to be repaid.
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. (http://www.federalhousingtaxcredit.com/2009/glance.php)
Life In Lansing
Whether you are New to the community or a long time resident. Life in Lansing highlights the unique and exciting aspects of Lansings Food, Culture, Real Estate, Events, Communities and more! What to see in Lansing. What to do in Lansing.
