First Time Home Buyer Tax Credit Income Limits – 2009 Modified Gross Adjusted Income for $8000 or $6500 Credit
Posted on | April 29, 2010 | Comments Off
With the extension and expansion of the first time home buyer tax credit there was also an adjustment in the income limits. For sales that occur after November 6th, 2009 the modified gross adjusted income levels have been increased to $125,000 for single taxpayers and $225,000 for married couples.
With this increase there is a possibility that many more people may enjoy the benefits of the first time home buyer tax credit. The tax credit expires on April 30th, 2010 so it would be very wise to take action sooner rather than later as you could miss out on this great opportunity.
There are many websites and free resources available online to help you better educate yourself on the first time home buyer tax credit and the move up homebuyer tax credit. It is also the case that your mortgage lender should be able to greatly help you with this subject. By simply calling your lender you should be able to much better understand if you qualify for these government tax credits.
Author: Jeremy North