The $15,000 Home Buying Tax Credit: 6 Things to Know

number

can i please have a number to contact

rer of NJ @ Nov 11, 2009 22:57:00 PM

Answer for Essam Abdelsayed of MD

Essam Abdelsayed of MD -

It depends on how long you have owned your home...you will need to look at how long you owned your home from before...I believe if it is over 5 years you qualify. Under the new provisions I am not sure if that has changed or not...but I don't think so.

Syndi of UT @ Nov 08, 2009 20:47:31 PM

NEED ANSWER

gus I need someone to help me , I bought a house for the second time ( I am not a first time owner ) DO i QUALIFY FOR $ 7500 TAX CREDIT OR NOT

Essam Abdelsayed of MD @ Nov 07, 2009 21:02:38 PM

why not retroactive?

I don't understand why we are hearing that the bill won't apply to those who just purchased in 2008... you will claim the credit of either kind on your 2008 taxes filed in 2009! If you filed for the $7500 'loan' credit, you could file an amended return to change to the 2008 $8000 credit.

As for 'Middle Class' above, get real ms fleming! You get to claim those losses as adjustments in your taxes that offset any other gains or income, so why whine about this? I would bet a look at your finances would show you are already ahead in this.

And to Jennifer in Cali, sorry but the income cap is because 90% of America doesn't have the sort of outrageous cost of living as your state. I just bought a nice home for $110,000 in GA, which worked out to about $50 a square foot, while Cali averages $500/sq ft, which is just ridiculous! you want a home and a good standard of living within your means? Move and it's yours!

Drew Brooks of GA @ Nov 07, 2009 02:05:24 AM

Middle Class

Again! Another unfair bailout coming out of Washington!

I just read about bill 3548...It's great that SOME people can get a tax

credit for buying a house, but many Americans reading about this bill

are as disappointed as I. We've been forced to sell 2 homes (both our

primary residence at the time) in this terrible economy in order to

maintain continued employment and both at a loss. And now, congress

wants to give first time home buyers and those who have been in their

homes for 5 years who "trade up" a tax credit. My willingness to bail out banks, businesses to big to fail and

people who can't afford a home in the first place is exhausted. We

Americans who continued to work hard, pay our mortgages and support our

communities during these bleak economic times deserve a break. IT'S OUR

TURN AS A MIDDLE CLASS AMERICAN to reap a benefit for being personally

financially responsible and paying for the financial mistakes of others!

ms.fleming of GA @ Nov 06, 2009 05:21:42 AM

Give in return

As a single renter I have/will paid through the nose taxes for those who were reckless in thier decision making when buying homes that they knew would 'adjust'. So yes now I can afford to buy a fixer....why the $75,000 annual income limit for the $8000 tax rebate? Why? I have been the good citizen by not buying into those crooked adjustable mortgages, and simply renting. With great credit I had ample opportunity to take one of those stinky loans then have the government bail me out off of single tax payer money. Please 'adjust' the annual income limits for single people for the $8,000 tax rebate. Thank you, Jennifer

Jennifer of CA @ Nov 03, 2009 12:16:30 PM

new tax credit for purchasing a home

Does the new tax credit bill include more than the "first time buyer" credit? We are looking for a primary retirement home.

Is there going to be something in this bill to help us?

Phil Murray of NC @ Oct 29, 2009 09:12:42 AM

get real

excuse me please, coming through, excuse me.... ehh hem I would like to get in the gov't welfare line for housing. yes yes that's fine I'll vote for you again if you just get me some of this free money. sounds great! this koolaid tastes awesome!

Jesse of WI @ Oct 27, 2009 01:18:57 AM