Can I Get a Federal Tax Credit if I Buy a House?, Tax Credit for New Homeowners in 2009 -- AARP

Ask the Experts Tax Credit for Buying a House

Q. I've never owned a home before, but with prices going lower, I'm considering buying. Can I still get a federal tax credit if I buy a home this year?

A. A federal tax credit equal to 10 percent of the home's purchase price, up to $8,000, is available to buyers under certain conditions:

1. They purchase a property between Jan. 1 and Nov. 30, 2009.

2. They haven't owned a principal residence within the last three years.

3. They earn an annual income of no more than $75,000 if single and $150,000 if married and filing a joint return.

After the purchase, buyers are required to live in the home for three years. Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures

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