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  2. What is the first-time homebuyer tax credit? - AOL

    www.aol.com/finance/first-time-homebuyer-tax...

    Key takeaways. A first time homebuyer tax credit offers a direct reduction of the amount of income tax you owe. The U.S. federal government offered a tax credit program to first-time homebuyers ...

  3. Housing and Economic Recovery Act of 2008 - Wikipedia

    en.wikipedia.org/wiki/Housing_and_Economic...

    Included a first-time home buyer refundable tax credit for purchases on or after April 9, 2008 and before July 1, 2009 equal to 10 percent of the purchase price of a principal residence, up to $7,500. Phased out the credit for taxpayers with incomes over $75,000 ($150,000 for joint returns).

  4. Would it help? Fed legislation would create $15,000 tax ... - AOL

    www.aol.com/help-fed-legislation-create-15...

    In 2008, 2009 and 2010, first-time homeowners could also claim a refundable tax credit from the purchase of their house, although the cap at the time was set at $7,500. That was increased to ...

  5. New Homeowners: Here’s What You Need To Know for Your Taxes

    www.aol.com/finance/homeowners-know-taxes...

    First-time homeowners are often nervous about all the new reporting they have to do during tax season. ... Maryland’s Homeowner’s Tax Credit Program has an annual household income cap of ...

  6. Mortgage Credit Certificate - Wikipedia

    en.wikipedia.org/wiki/Mortgage_Credit_Certificate

    Mortgage Interest Paid (1st Year): $11,933; x MCC Credit: 30% = Total Credit: $3579; Because the total credit in this example exceeds the IRS limit of $2000, the homebuyer would report a $2000 credit on their tax return. The buyer may continue to receive a tax credit for as long as they live in the home and retain the mortgage.

  7. New Homeowners: Here’s What You Need To Know for Your Taxes

    www.aol.com/news/homeowners-know-taxes-200035500...

    First-time homeowners are often nervous about all the new reporting they have to do during tax season. Instead of fretting, turn your anxiety into curiosity because there are many deductions and ...

  8. First-time homebuyer guide - AOL

    www.aol.com/finance/first-time-homebuyer-guide...

    A first-time homebuyer is someone who has either never owned a home or who has not owned a home in the last three years. First-time homebuyer programs offer mortgages with low down payment ...

  9. ‘The cost of housing is so important’: President Biden ...

    www.aol.com/finance/cost-housing-important...

    Recognizing the financial pain felt by millions of working families, President Biden has proposed a $10,000 tax credit for first-time homebuyers and people who sell their starter homes. Don’t miss

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