Posted on: 25th Jun, 2009 05:26 am
I was just informed I can purchase a home in my name since I am not on my brother's loan, but I am on the deed. I was also told I will not be able to get the $8k tax credit. Can someone explain to me why I am not eligible for this credit?
There are some criterea that you need to meet in order to recieve the tax credit.
- you need to be a first time homebuyer
- you cannot exceed the income limit of $75,000 per year if you file single and $150,000 if you file married
- the home must be used as your principle residence
I hope this information helps.
- you need to be a first time homebuyer
- you cannot exceed the income limit of $75,000 per year if you file single and $150,000 if you file married
- the home must be used as your principle residence
I hope this information helps.
http://www.federalhousingtaxcredit.com/2009/glance.php
elnora, i'm glad you provided the link, but i'm afraid that the only ones who will use it are those who actually know what to look for. we will continue to get queries from those who really ought to be reading that information.
