Information about the $8000 First Time Tax Credit

The new 2009 tax credit of up to $8,000 is available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit DOES NOT have to be repaid.

$8,000 Home Buyer Tax Credit at a Glance

This tax credit is for first-time home buyers only. Those who not owned a home in the pasted 3 years.

*** The tax credit does not have to be repaid.

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.

For additional information about this program go to go to the IRS web site at:

http://www.irs.gov/newsroom/article/0,,id=204671,00.html

Allen Deaver - REALTOR®

ERA Millennium Realty

www.adeaver.com

512-791-4543

allenwdeaver@yahoo.com