If you are a first time home buyer and you make $75,000 single/$150,000 joint or less, you can qualify for a credit of $8,000 on your 2009 tax return.
The home you purchase must be your primary residence and you must live in it for at least 3 years.
This credit is available to homes purchased between January 2009 - December 2009.
The home you purchase must be located in the United States and includes condos, co ops, townhomes and one family detached residences.
To receive the credit simply claim it on your IRS Form 1040 tax return.
The $8,000 credit is given on a property bought for over $80,000. If the property is less than that, the credit is 10% of the purchase price.
The property cannot be purchased from a relative and with new construction, you must occupy the home before December 1, 2009.
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