• For homebuyers who have not had any ownership interest in a home in the last 3 years • Closing date of January 1 – November 30, 2009 • Owner occupied primary residence • Tax credit of $8,000 or 10% of purchase price, whichever is less • Tax credit on 2008, 2008 amended, or 2009 return. • IRS will issue a refund check if the tax credit exceeds tax liability • Income restrictions - $75,000 adjusted gross income for a single tax payer and $150,000 adjusted gross income for married couples filing a joint return (and partial credit for those with incomes up to $95,000/single and $170,000/couple) • For married joint filers, both must meet the 1st time homebuyer test to take the credit on a joint return • For single family detached homes, condos, townhouses • May not be sold within 3 years or tax credit must be repaid Marketing Sales & Listings Technology Legal Training for Carolina One Real Estate Sales Associates UPDATE # 102 Carolina One Real Estate $8,000 “FIRST-TIME” HOMEBUYER TAX CREDIT OPPORTUNITY REALQuick * Other restrictions may apply, consult your CPA or other tax professional

Homebuyer's Tax credit

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Information on first time homebuyer's tax credit, 2009

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• For homebuyers who have not had any ownership interest in ahome in the last 3 years

• Closing date of January 1 – November 30, 2009

• Owner occupied primary residence

• Tax credit of $8,000 or 10% of purchase price, whichever is less

• Tax credit on 2008, 2008 amended, or 2009 return.

• IRS will issue a refund check if the tax credit exceeds tax liability

• Income restrictions - $75,000 adjusted gross income for a single tax payer and $150,000 adjusted gross income for married couples filing a joint return (and partial credit for those with incomes up to $95,000/single and $170,000/couple)

• For married joint filers, both must meet the 1st time homebuyer test to take the credit on a joint return

• For single family detached homes, condos, townhouses

• May not be sold within 3 years or tax credit must be repaid

Marketing

Sales & Listings

Technology

Legal

Training

for Carolina One Real Estate Sales Associates

UPDATE#102

Carolina OneReal Estate

$8,000 “FIRST-TIME” HOMEBUYER TAX CREDIT OPPORTUNITY