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The Skye Real Estate Blog

Nov. 6, 2009 - Recent Tax Deduction Information On Real Estate

 

Great News For 1st Time Homebuyers AND PRESENT HOMEOWNERS!

A recent update on homebuying tax credit: 

$8,000 tax credit extended to April 30, 2010, starting December 1, 2009 (First Time Homebuyers).  $4,000 tax credit for those filing separately.

$6,500 tax credit for current homeowners.  Must have used the home sold or being sold as a principal residence consecutively  for 5 of the previous 8 years.  $3,250 if married but filing separately.

Income limits for a single person is $125,000 and $225,000 for a married couple

Must attach documentation of purchase to your tax return.

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Weblog of Mary & Joe Skye, REALTORS in San Antonio, Bexar County, TX . . . an offering of miscellaneous real estate data, market reports, items of interest, commentary, free reports, professional services offered to buyers and sellers by Mary & Joe and miscellaneous other information as it evolves.

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