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The tax credit for 2009 ends November 30, 2009 - your transaction must close by that date in order to qualify for the credit. Currently, there is no official continuance of the credit. There are rumors that it will be continued into 2010, but no confirmation from the government yet.
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What is some advice for a first time home buyer to get tax credit from 2010?
In order to get the first time home buyer tax credit, you need to have closed on your home by October of 2010. If so, you can take the deduction on your taxes.
Is the first time home buyer credit still in effect and if so how for how long?
Yes, the first time home buyer's credit is still available, and will be so until April 2010 (http://www.federalhousingtaxcredit.com/).
Is there a tax credit for first time home buyers?
Yes. There is a first-time home buyer credit of up to $8000 until 4/30/2010.
What is the amount of the first time home credit for a first time home buyer?
First time home buyers get a $8,000 tax credit for a home contract signed by April 30, 2010 (completed no later than June 30, 2010). Repeat buyers get a $6,500 tax credit.
How would a person find out if they qualify for the First Time Home Buyer Tax Credit?
In a span of three years mainly, from 2008 to 2010, a person may qualify for the First Time Home Buyer Credit if they had bought primary residence from that year.
If there are 2 purchasers on a home and only one is a first time home buyer can first time buyer get first time home buyer tax credit?
Yes
Is there still a tax credit available to first time home buyers?
Yes. The first time home buyers tax credit has been extended through May 1, 2010. According to irs.gov if a home is under contract by May 1, 2010 and closed on by July 1, 2010 the first time buyer will receive an $8,000 tax credit.
What companies offer mortgages to a first time home buyer that has bad credit?
Finding a company that offers mortgages to a first time home buyer that has bad credit is not an easy task. Mortgagedigger, govhomeloans and operationhope are companies that offer mortgages to a first time home buyer that has bad credit.
Does a land contract qualify a first time home buyer for the new tax credit?
Does a land contract qualify a first time home buyer for the new tax credit?
How do you know if you qualify for the first time buyer tax credit 2010?
There are some restrictions. Examples: Dependents aren't allowed to claim credit, NO credit if home is price is above $800,000, and you must be at least 18.
What is first time home buyers credit?
First time home buyer's credit will not prevent you from getting a home loan. This credit is intended to help first time home buyers. You can check with your lending company to get more information.
How to check status of first-time home buyer tax credit?
1800 829-1040
