2010 Home Buyer Tax Credit
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2010 Home Buyer Tax Credit |
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Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
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Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.
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First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
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Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
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To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
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The maximum allowable credit for first-time home buyers is $8,000.
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The maximum allowable credit for current homeowners is $6,500.
