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Tennessee Gal
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Thu Feb-05-09 07:10 PM Original message |
A simple explanation of the $15,000 tax credit for home purchase. |
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ima_sinnic
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Thu Feb-05-09 07:15 PM Response to Original message |
1. does that have to be paid back, like the current $7500 credit? (nt) |
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Tennessee Gal
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Thu Feb-05-09 07:17 PM Response to Reply #1 |
2. No. |
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here_is_to_hope
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Thu Feb-05-09 08:48 PM Response to Reply #2 |
28. Will this apply to 2009 taxes too? n/t |
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county worker
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Thu Feb-05-09 07:18 PM Response to Original message |
3. How does that help someone about to be foreclosed on? |
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Tennessee Gal
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Thu Feb-05-09 07:22 PM Response to Reply #3 |
4. It only boosts the housing market, which is way down because of economic fears. |
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Tennessee Gal
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Thu Feb-05-09 07:27 PM Response to Reply #3 |
9. If you are trying to sell a house, it may help you get a buyer sooner if they need the tax credit. |
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wryter2000
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Thu Feb-05-09 07:29 PM Response to Reply #9 |
12. It might help the neighbors some, too |
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ret5hd
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Thu Feb-05-09 07:23 PM Response to Original message |
5. What you are describing sounds like a tax deduction to me, not a tax credit. |
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Tennessee Gal
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Thu Feb-05-09 07:24 PM Response to Reply #5 |
6. No, you have that reversed. |
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ret5hd
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Thu Feb-05-09 07:26 PM Response to Reply #6 |
8. from finweb.com |
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Tennessee Gal
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Thu Feb-05-09 08:00 PM Response to Reply #8 |
23. You are correct. I am sorry. |
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ohtransplant
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Thu Feb-05-09 07:32 PM Response to Reply #5 |
14. You are correct sir. |
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ret5hd
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Thu Feb-05-09 07:35 PM Response to Reply #14 |
16. Yes, but the OP seems to be slow in acknowledging it. |
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ohtransplant
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Thu Feb-05-09 07:43 PM Response to Reply #16 |
18. She must've gotten those spiffy examples from somewhere... |
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jsamuel
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Thu Feb-05-09 07:25 PM Response to Original message |
7. What if you buy your house "again" by refinancing? |
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Tennessee Gal
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Thu Feb-05-09 07:27 PM Response to Reply #7 |
10. Refinancing is not buying. It requires no sales contract. |
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ret5hd
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Thu Feb-05-09 07:28 PM Response to Reply #7 |
11. Sell it to your spouse. |
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DURHAM D
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Thu Feb-05-09 07:31 PM Response to Original message |
13. I honestly don't know who this credit is designed to benefit. |
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bottomtheweaver
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Thu Feb-05-09 07:43 PM Response to Reply #13 |
17. Good analysis. |
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stray cat
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Thu Feb-05-09 07:50 PM Response to Reply #13 |
20. Those of us who haven't bought a home until we had money for a downpayment |
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Kansas Wyatt
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Thu Feb-05-09 07:33 PM Response to Original message |
15. So they are trying to create another BUBBLE... |
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stray cat
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Thu Feb-05-09 07:48 PM Response to Reply #15 |
19. A 15000 tax credit in this lending climate will never create a housing bubble. |
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Kansas Wyatt
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Thu Feb-05-09 07:57 PM Response to Reply #19 |
22. Don't be so sure that they haven't got an angle up their sleeve. |
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lizziegrace
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Thu Feb-05-09 07:55 PM Response to Original message |
21. A credit is a reduction of taxes owed |
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Muttocracy
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Thu Feb-05-09 08:01 PM Response to Reply #21 |
24. yes and here's the text of the amendment and an excerpt about that |
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lizziegrace
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Thu Feb-05-09 08:05 PM Response to Reply #24 |
26. I like the fact that the taxpayer can elect to take the credit |
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Riley18
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Thu Feb-05-09 08:03 PM Response to Original message |
25. This credit or whatever they call it has finally convinced me that there will |
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Muttocracy
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Thu Feb-05-09 08:35 PM Response to Reply #25 |
27. have you read the amendment itself? nt |
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