First Time Homebuyer Tax Credit


First Time Homebuyer Tax Credit

The First-Time Homebuyer Tax Credit is a federal tax credit that provides a dollar-for-dollar reduction in the amount of income tax you owe. The credit is available to first-time homebuyers who meet certain income and purchase price limits. For example, in 2023, the credit is worth up to $8,000 for individuals and $16,000 for married couples filing jointly.

The First-Time Homebuyer Tax Credit is an important tool that can help make homeownership more affordable. The credit can help first-time homebuyers save thousands of dollars on their taxes, which can be used to reduce their mortgage payments or make other home-related expenses.

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