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Total Florida State Budget Amount
$0M
FY 2008-2009
TBD
FY 2009-2010
TBD
FY 2010-2011
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Amounts to Local Government Passed Through State Agencies
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Amounts Sent Directly to Local Government
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Tax Credits for First-time Home Buyers

Section: Division B, Title I | Agency: Internal Revenue Service

For some 2008 and 2009 Home Purchases

The American Recovery and Reinvestment Act of 2009 expanded the first-time homebuyer credit by increasing the credit amount to $8,000 for some home purchases made in 2008 and 2009 before Dec. 1.

For home purchased in 2009, the credit does not have to be paid back unless the home ceases to be the taxpayer's main residence within a three-year period following the purchase.

First-time homebuyers who purchase a home in 2009 can claim the credit on either a 2008 tax return, due April 15, 2009, or a 2009 tax return, due April 15, 2010. The credit may not be claimed before the closing date. But, if the closing occurs after April 15, 2009, a taxpayer can still claim it on a 2008 tax return by requesting an extension of time to file or by filing an amended return.

For further information:   http://www.irs.gov/newsroom/article/0,,id=205416,00.html