The tax credit is for first time home buyers or those who have not owned a home for the past 3 years.
The tax credit does not have to be repaid. It’s a tax credit, not a tax deduction, if you qualify for $8,000 you get $8,000.
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. Those with higher incomes may qualify for a partial tax credit.
* This information was provided by Amerivest Realty
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The data relating to real estate for sale on this Website come in part from the Broker Reciprocity Program (BR Program) of M.L.S. of Naples, Inc. Properties listed with brokerage firms other than Amerivest Realty are marked with the BR Program Icon or the BR House Icon and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available through the BR Program. The data provided by the Broker Reciprocity Program, and the Information is Deemed Reliable But Not Guaranteed. The source of the information about real property available for sale or rent is the copyrighted and proprietary database of the M.L.S. of Naples, Inc. Copyright 2002 M.L.S. of Naples, Inc.; all rights reserved.