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So here is a question - I bought a house in April 2009 and have yet to apply for the credit. I am single and make over 75,000/year but less than 90,000 and with my 2009 income would be able to get a partial credit under the prior (prior to today) rules. Now, if the limit is raised to $125,000 for single taxpayers to get the full credit instead of a partial one - will I be eligible to get the full $8000 when I do my taxes next year?
@Anonymous wrote: So here is a question - I bought a house in April 2009 and have yet to apply for the credit. I am single and make over 75,000/year but less than 90,000 and with my 2009 income would be able to get a partial credit under the prior (prior to today) rules. Now, if the limit is raised to $125,000 for single taxpayers to get the full credit instead of a partial one - will I be eligible to get the full $8000 when I do my taxes next year?
No, not if the story linked by Shane is accurate. It states the new rules are NOT retroactive, and effective Dec. 1. So, any purchases from New Year's Day through Nov. 30 are subject to current law, and its limits. The extension effectively is 'new' law, not relevant till next month.
