It’s Final: $8K Tax Credit to Benefit (Some) Homebuyers
It isn’t the $15,000 tax credit that passed the Senate, but first-time homebuyers probably won’t complain about the $8,000 credit that wiggled it’s way into Congress’ final stimulus package.
The benefit applies only to homes purchased between Jan. 1 and Dec. 1 of this year, and only for families earning less than $150,000 ($75,000 for individuals). Also, the credit will have to be paid back if the home is resold within three years.
Both the House and Senate are expected to pass the $789 billion stimulus bill tomorrow.