Who qualifies? Read this.
Claiming this year’s first-time home buyer’s tax credit is easy
By Sandra Block, USA TODAY
You’ve found a charming bungalow in a nice neighborhood at a price you can afford. Mortgage rates have never been lower. You’ve even managed to come up with a 20% down payment. There’s just one problem: The Pepto Bismol-colored carpet in the family room is not to your taste, and you don’t have any money left for hardwood floors.
Well, you may not have to live with that hot-pink rug for long. A provision in the economic stimulus bill enacted this year provides a tax credit of up to $8,000 for first-time home buyers. Unlike the $7,500 tax credit enacted last year, this credit doesn’t have to be repaid. And you don’t have to wait until you file your 2009 tax return to get your money.
