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long time resident homebuyer

7 Tips About the First-Time Homebuyer Credit

The First-Time Homebuyer Income Tax Credit has been really popular with lots of folks – and there is still time to take advantage of it.  As you may be aware, the name of the credit is misleading – it’s been expanded to include folks who owned a house for a significant period of time and have purchased a new home during the prescribed period as well. Like all tax provisions, this is one that you have to pay particular attention to the details, otherwise you could miss out on the credit.  Following are seven facts that the IRS wants you to know about claiming the credit (IRS Tax Tip 2010-27). Seven Important Facts About Claiming the First-Time Homebuyer Credit You must buy – or enter into a binding contract to buy – a principal residence located in the United States on or before April 30, 2010.  If you have entered […]