$8,000 tax credit for first-time home buyers. This popular and valuable tax credit of up to 10% of the purchase price or up to $8,000 was extended into 2010 (purchase agreements must be signed by April 30, 2010, and closings must be final by June 30, 2010). The new program was also expanded to include a tax credit of up to $6,500 (or up to 10% of the purchase price) for qualified buyers of a second or “replacement” home under the same deadlines. To qualify, home purchasers must have owned and occupied a primary residence for five consecutive years during the last eight years. Most importantly, the new program significantly increases previous income requirements.
There are other important guidelines to meet in order to qualify, so be sure to discuss your situation with a tax professional. Don’t forget, you can still buy a home before April 30th and qualify – even you’ve already filed your 2009 taxes – For more information please contact us 772-905-8173 or visit www.BoldRealEstateGroup.com or send us an email at email@example.com.