Home Buyers Tax Credit

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The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence and a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (binding sales contract signed by April 30, 2010 and a home purchase completed by June 30, 2010). 

For sales occurring after November 6, 2009, the Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns.

To learn more about obtaining the tax credit and repayment, visit the Frequently Asked Questions.

For further information about eligibility requirements and limitations, visit www.irs.gov.

This information is subject to change without notice.
1. Consult a tax advisor regarding your individual situation. This information is not intended to provide legal advice, tax advice, accounting services, or investment advice, nor should it be relied on for legal advice. Please seek the advice of your own legal counsel.
2. Not available for those who qualify for a similar tax credit in the District of Columbia, or for those who finance their home purchase under a mortgage revenue bond program.

3. Conditions apply.