Friday, November 6, 2009

First Time Home Buyer Credit Expanded

Quick points on the credit.
  • First time home buyer Credit (have not owned in last 36 months) extended until 4/30/10 and must close by 6/30/10. ($8000)
  • Home buyers who have owned in last 5 out of 8 years can apply for a $6500 credit also has to be closed by 6/30/10.
Also, unemployment extensions for states with 8.5% unemployment or higher. Iowa currently not eligible.

It is now better to wait and put credit on your 2009 return, rather than amend your 2008 as it takes more than 4 months to process.

Call if you have any questions. 515.285.5544

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