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Question by musa116: how to get the first time home buyer tax credit?
We have already filed for the tax return we bought our home for first time and we closed last week. Now how we can file for the tax credit as a first time home buyer?
We filed the tax in GA, but bought the home in OH, does this make any difference?

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Tax credit for home buyers are becoming more and more popular every day.  Whether the economy is in an up cycle or a down, smart home buyers are looking for new ways to save money.  The good news is, if you’re a first time home buyer you may qualify for the Mortgage Credit Certificate.

The Mortgage Credit Certificate is a federal program which allows first time home buyers to lower their final income tax bill in the amount equal to twenty percent of the mortgage interest they pay as part of their mortgage. 

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The new bill passed by Senate earlier in the year allows states to trade in a portion of their 2009 low-income housing tax credits for Treasury Grants.  These grants would be used to finance the construction, or purchase and rehab of low-income housing, including those with or without tax credit allocations.

The low housing grants will include funding for the following causes:

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There are many homes for sale in Farmington Hills MI, but if you are a first time home buyer, there is something you should do first.

Farmington Hills is a wonderful place to live, but as much as you might like to buy any of the homes for sale in Farmington Hills MI, you need to check something first.  You need to make sure that you are ready.

I know.  If you’re like most soon-to-be first time home buyers, you’ve been ready to buy your home.  You’ve probably visualized yourself in your new home.  You walk outside and take a deep breath.  The smell of grass in the spring is awesome, especially when it is the grass in your very own yard.

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First time home buyers can now enjoy tax credit. The government is currently offering this. The home buyer can enjoy as much as ,000 tax credit. However, not everyone is qualified. If you have purchased a property this year, verify if you qualify for the said program. If you want to find out if you qualify, keep on reading.

The initial thing you have to keep in mind about this stimulus is that it is established for the first time home buyers. This is for those who have purchased their principal residence from January 1, 2009 up to December 1, 2009.

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As part of the American Reinvestment and Recovery Act (ARRA) of 2009 signed into law by President Obama, many programs were initiated with the aim to improve the housing market. One such program is the Home Buyer Tax Credit Program that allows married couples with an income of up to 0,000 or single persons with an income of up to ,000 to get an immediate tax credit.

To qualify for this tax credit, home buyers had to close their home purchase by December 1, 2009. They could claim the credit on their 2009 tax return or amend their 2008 return to get the money sooner. This offered a great incentive to first time home buyers, and therefore, it was extended to 2010 for all U.S. citizens and to April 2011 for certain government employees, including those in the military, foreign services, and the intelligence community.

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As people begin to unravel all the details of the new stimulus package, they might notice that there is a whopping ,000.00 tax break for those who meet the qualifications of first-time homebuyers. This money will be directly added as a tax credit and could save many people a lot of money in the coming year.

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