CARL WATTS & ASSOCIATES
March 15, 2010
Have you owned and lived in your home for five consecutive years out of the last eight?
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Have you purchased a new principal residence between November 6, 2009 and April 30, 2010?
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Do you have an income of up to $125,000 if single or $225,00 if a married couple?
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Then you are entitled to a tax credit of 10% up to $6,500 for a new principal residence purchased at the price of $800,000 or less
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Washington DC
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tel/fax 202 350-9002 |
IIf you purchased a new home and you haven’t owned a principal residence for the previous three years, you are entitled to a tax credit of up to $8,000.
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The tax credit is equal to 10% of the homes purchase price up to a maximum of $800,000 if the sale occurred after January 1, 2009.
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For homes purchased between January 1, 2009 and November 6, 2009 there are income limits of $75,000 for singles and $150,000 for married couples.
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Did you purchase your home after November 6 2009? Do you have an income of up to $125,000 if single or $225,00 if a married couple? Then you qualify for the full tax credit.
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