WAHOOOO the first time home buyers tax credit has been extended....

Homebuyer Tax Credit Extended and Expanded

(December 1-April 30, 2010)

First Time Buyer $8000 ($4000 married filing separate)
May not have had an interest in a principle residence for 3 years prior to purchase
Current Home Owner $6500 ($3250 married filing separate)
Effective Date Date of Enactment
Must have used the home sold or being sold as a principle residence consecutively for 5 of the previous 8 years.
Terminates- purchases after April 30, 2010
Income limits $125,000 single $225,000 married
Limitation on cost of home $800,000
Purchaser must attach documentation of purchase to tax return.
(Contact an accountant and/or the IRS for more information.)