Tax Impacts

What are the 2008-2009-2010 housing tax credits?

Posted on Friday, February 4, 2011


The 2008-2009-2010 housing tax credits are federal tax incentives to help revitalize the housing market, prevent foreclosures, and strengthen the economy.

The credits are part of the:

Worker, Homeownership, and Business Assistance Act of 2009
American Recovery and Reinvestment Act of 2009
2008 American Housing Rescue and Foreclosure Prevention Act
The housing tax credits offer tax incentives to homeowners, homebuyers, and developers of low-income housing, including:

a two-year limited property tax deduction for homeowners who do not itemize their deductions
a refundable tax credit for eligible first-time homebuyers
a refundable tax credit for eligible non-first-time homebuyers
increased tax credits for developers of low-income rental housing


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