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Salt Lake City Blog for Russian and English speaking community looking for real estate, legal and translating services and/or information

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Marina Vialtsina

Tuesday, December 16, 2008

Income Limit for first home buyers tax credit

are there any circumstances for which buyers whose incomes are at or below the $75,000 limit for singles or the $150,000 limit for married taxpayers might not be able to claim the full $7,500 tax credit?

In general, the tax credit is equal to 10% of the qualified home purchase price, but the credit amount is capped or limited at $7,500. For most first time home buyers, this means the credit will equal $7,500. For home buyers purchasing a home priced less than $7,500, the credir will equal 10% of the purchase price.

1 comment:

QUALITY STOCKS UNDER 4 DOLLARS said...

Theirs way to much government involvment in housing.

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