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Is it true that the government is offering 8,000 tax credit when u buy your 1st home, does this count for property land also?

I read this but dont know if its true...
The Goverment Is Offering a $8000.00 Tax Credit For a Limited time When You Buy Your 1st Home! Only Until Dec. 1st. Better Hurry

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Anonymous

Asked by Anonymous at 4:26 AM on Sep. 30, 2009 in Money & Work

Answers (3)
  • I know about the tax credit with the first home (stupid government didn't offer it when we bought a home...GRRR), but I'm not thinking it would have to do with land.


    I'm sure irs.gov has all the info about what is/isn't covered.

    AllAboutKeeley

    Answer by AllAboutKeeley at 5:38 AM on Sep. 30, 2009

  • Call the IRS 1-800-829-1040 - Hours of Operation: Monday – Friday, 7:00 a.m. – 10:00 p.m. your local time (Alaska & Hawaii follow Pacific Time).
    rkoloms

    Answer by rkoloms at 6:26 AM on Sep. 30, 2009

  • Yes there is a homebuyer credit up to 8k for first time home buyers. It is 10 percent of the homes value up to 8k. First time home buyer is a person who has not owned a home in the last three years. It is for a house you will be living in and you have to stay in that house for 3 years or you do have to pay it back.

    We closed on our home in Aug. We would have bought anyway since home prices are finally affordable the 8k was a nice touch. We owe every year so it was nice to get our own money back for a change. Look at the IRS website for more info.
    Anonymous

    Answer by Anonymous at 10:11 AM on Sep. 30, 2009

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