{"id":18372,"date":"2009-11-09T11:42:50","date_gmt":"2009-11-09T19:42:50","guid":{"rendered":"https:\/\/louisvillehomesblog.com\/?p=879"},"modified":"2023-09-05T17:11:43","modified_gmt":"2023-09-05T17:11:43","slug":"home-buyer-tax-credit-changes","status":"publish","type":"post","link":"https:\/\/trepryor.com\/blog\/home-buyer-tax-credit-changes\/","title":{"rendered":"Home Buyer Tax Credit Changes"},"content":{"rendered":"\n

Now that it’s law, I thought this information deserved its own post. If you have any questions about how this might apply to buying your next Louisville home, please don’t hesitate to contact me<\/a>.<\/p>\n\n\n\n

FEATURE<\/th>Jan 1 \u2013 November 30, 2009 Rules as enacted February 2009<\/th>December 1 \u2013 April 30, 2010 Rules as enacted November 2009<\/th><\/tr>
First-time Buyer \u2013 Amount of Credit<\/strong><\/td>$8000 ($4000 married filing separate)<\/td>$8000 ($4000 married filing separate)<\/td><\/tr>
First-time Buyer \u2013 Definition for Eligibility<\/strong><\/td>May not have had an interest in a principal residence for 3 years prior to purchase<\/td>-same-<\/td><\/tr>
Current Homeowner \u2013 Amount of Credit<\/strong><\/td>No Provision<\/td>$6500 ($3250 married filing separate)<\/td><\/tr>
Effective Date \u2013 Current Owner<\/strong><\/td>No Provision<\/td>Date of Enactment<\/td><\/tr>
Current Homeowner \u2013 Definition for Eligibility<\/strong><\/td>No Provision<\/td>Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years<\/td><\/tr>
Termination of Credit<\/strong><\/td>Purchases after November 30, 2009. (Becomes April 30, 2010 on Date of Enactment.)<\/td>Purchases after April 30, 2010<\/td><\/tr>
Binding Contract Rule<\/strong><\/td>None<\/td>So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.<\/td><\/tr>
Income Limits (Note: Increased income limits are effective as of date of enactment of bill)<\/strong><\/td>$75,000 \u2013 single, $150,000 \u2013 married, Additional $20,000 phase out<\/td>$125,000 \u2013 single, $225,000 \u2013 married, Additional $20,000 phase out<\/td><\/tr>
Limitation on Cost of Purchased Home<\/strong><\/td>None<\/td>$800,000 Effective Date of Enactment<\/td><\/tr>
Purchase by a Dependent<\/strong><\/td>No Provision<\/td>Ineligible
Effective Date of Enactment<\/td><\/tr>
Antifraud Rule<\/strong><\/td>None<\/td>Purchaser must attach documentation of purchase to tax return<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"

Now that it’s law, I thought this information deserved its own post. If you have any questions about how this might apply to buying your next Louisville home, please don’t hesitate to contact me. FEATURE Jan 1 \u2013 November 30, 2009 Rules as enacted February 2009 December 1 \u2013 April 30, 2010 Rules as enacted […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"0","ocean_second_sidebar":"0","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"0","ocean_custom_header_template":"0","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"0","ocean_menu_typo_font_family":"0","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"0","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[680],"tags":[958],"class_list":["post-18372","post","type-post","status-publish","format-standard","hentry","category-residential","tag-home-buyer-tax-credit-changes","entry"],"_links":{"self":[{"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/posts\/18372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/comments?post=18372"}],"version-history":[{"count":1,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/posts\/18372\/revisions"}],"predecessor-version":[{"id":21306,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/posts\/18372\/revisions\/21306"}],"wp:attachment":[{"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/media?parent=18372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/categories?post=18372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/tags?post=18372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}