The first time homebuyer tax credit effectively ends on April 30th. This is an $8,000 tax credit for homebuyers. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
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For this tax credit, the first house means a person who has not owned their principal residence during the three years preceding the date of purchase of the house. Married couples are first time buyers, if neither spouse owns the house in the last three years.
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