Unless you’re an accountant we don’t recommend answering that. However, knowing a little about the $7,500 First-Time Home Buyer Tax Credit and being able to point your clients in the right direction for more information is good practice. Risk Reduction 101: Be the source of the source.
The National Association of Home Builders has set up a federal housing tax credit website with lots of information – including the ever-valuable Frequently Asked Questions section. The site says that home buyers may be eligible for the credit if they have purchased a home on or after April 9, 2008 and before July 1, 2009. If this sounds like any of your clients, it might be a good message to forward on.
