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Asked about “Tax Savings for Homeowners”

My wife and I are about to start building a house ...

My wife and I are about to start building a house in a Sub-Division. We make around 85K per year and once we close on the house we will have only been out of our last home for 2 years. So are there no tax credits/insentives really available to us? I mean we are really missing out not being able to take part in the Current tax Credit for $8,000 if your a first time Home owner or haven't owned in 3 years. So is there pretty much nothing out there for us?


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With the Refundable First-Time Home Buyer Credit, many taxpayers who purchase(d) a first home between April 9, 2008 and June 30, 2009 may be able to claim a refundable credit equal to 10% of the purchase price. Limitations apply, so be sure to read up on the specifics.  Depending on when you sold your last home, you may be eligible.  Here are some of the other benefits from the new Stimulus Bill which you may be eligible for: http://ratenerd.com/tax-breaks-economic-stimulus-896
Posted 2009-06-20T12:49:39Z
RateNerd was invited by Yedda to answer this question.

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Chat live with a Conquest Resolutions Representative

http://www.loanmodificationshelponline.com/live_chat.html

Is this a sweat equity program or do you have a builder with whom you are working? Tax questions are really for your tax accountant but having worked for a construction lender, there are too many questions left open for me to answer. I would advise you to speak to a professional tax firm.
Posted 2009-06-20T22:30:21Z
noticeablejewels was invited by Yedda to answer this question.

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