What’s new about the 2009 version of the homebuyer tax credit?
The 2008 credit is a maximum of $7,500 and must be repaid. The 2009 credit is a maximum of $8,000, and the repayment feature is eliminated for 2009 purchasers. Any home purchased for $80,000 or more qualifies for the full $8,000 amount. If the house costs less than $80,000, the credit will be 10% of the cost. Thus, if an individual is available for the purchase of a principal residence on or after January 1, 2009 and before Decemeber 1, 2009.
