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emailuser...

M¢25 Funded By Mahalo ? | February 26, 2009 09:31 AM

Tax credit

I heard on the news (MONEY 101) that the tax credit if purchasing a home this year is 15,000, but then other people say that will not go up to that amount after all. Does anyone know how much it is? Thanks in advance for any help

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shakespear...

February 27, 2009 04:12 AM

The credit is defined as 10% of the home's value, up to $8000. You also have to stay in the home for 3 years, or you are eligible to pay it back - I suppose that is to discover flippers.
Source(s):
http://www.usatoday.com/money/perfi/columnist/block/2009-02-23-stimuls-impa...

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