First Time Homebuyer Tax Credit- Part 1
As part of its major housing legislation, H.R. 3221, Congress created a tax credit to provide an incentive for first-time homebuyers. The $7,500 credit will be available for the purchase of a principal residence on or after April 9, 2008 and before July 1, 2009. This first blog post will address common questions. A second post will follow with my thoughts on the tax credit… The Basics Who qualifies for the new tax credit? Only