The internal revenue service recently issued a revision to the 5405 Form. The form is designed to walk the “First-Time Homebuyer” through the process of claiming the credit credit. Here are a few more details about the credit.
Exactly Who Can Claim the Credit
For the most part, you are eligible to claim claim the credit if you purchased a primary residence located in the United States between April 8, 2008, and December 1, 2009 and you or your spouse (if married) did not own any other home during a three year period ending on the date of the purchase. In addition, if you build a home, it is the same as if you had purchased it on the first day that you moved in.
Exactly Who Cannot Claim the Credit
You can't claim the credit if you make more than…