Friday, January 22nd, 2010
How much new homeowner tax credit can I receive?
pinkflyd7 asked:
My wife and I are first time homebuyers. We are thinking of buying a house that is around $150,000. Would we get the full $8,000 tax credit, or just a percentage of the house value? I read somewhere that it is only 10%, which would mean only $1,500 in tax credit. That’s not really enough to make us take the plunge.
Sorry about the math, I meant 1%. Not 10%
My wife and I are first time homebuyers. We are thinking of buying a house that is around $150,000. Would we get the full $8,000 tax credit, or just a percentage of the house value? I read somewhere that it is only 10%, which would mean only $1,500 in tax credit. That’s not really enough to make us take the plunge.
Sorry about the math, I meant 1%. Not 10%
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January 23rd, 2010 at 4:37 pm
I would strongly suggest a math refresher course. 10% of $150K is NOT $1,500.
You better close quick, you only have about 24 days or so under current law.
Helen, EA in PA