2009 Homebuyer Tax Credit

An $8,000 tax credit will be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not have to be repaid. Most of the details of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

To Learn More
We recommend these additional resources for more information on the tax credit:

• NAR's How to Get the 2009 First-Time Homebuyer Tax Credit
  
• NAR's Frequently Asked Questions
  
• Federal Housing Tax Credit Web Site (NAHB)