Following is a summary of the two types of home buyer tax credits:
$8,000 FIRST TIME Who is Eligible? The $8,000 tax credit is for first-time home buyers only, defined as someone who has not owned a principal residence for the last three years.
How much can I receive? The tax credit is equal to 10% of the home's purchase price up to a maximum of $8,000.
What are the effective dates? Your must contract for your new home by April 30, 2010 and close by June 30, 2010.
$6,500 MOVE-UPWho is eligible? The $6,500 tax credit applies to buyers who have owned and lived in their previous home for five consecutive years out of the last eight.
How much can I receive? The tax credit is equal to 10% of the home's purchase price up to a maximum of $6,500.
What are the effective dates? You must contract for your new home by April 30, 2010 and close by June 30, 2010.
Active duty military personnel may qualify for extended deadlines of up to a year, depending on circumstances. Contact Anna-Lise Troup at 520-906-5659 for additional information. ---
Anna-Lise TroupTucson REALTOR/Davis-Monthan AFB PCS Expert
Realty Executives
(520) 906-5659
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Tucson Real Estate, Condos, Homes for SaleFree Relocating to Tucson, AZ Information KitDavis-Monthan AFB Relocation Information---
# posted by
Anna-Lise Troup @ 11:10 AM
