Rules as enacted

February 2009

December 1 – April 30,

2010 Rules as enacted

November 2009

Firsttime Buyer –

Amount of Credit

$8000

($4000 married

filing separate)

$8000

($4000 married

filing separate)

Firsttime

Buyer –

Definition for Eligibility

May not have had an interest

in a principal residence for 3

years prior to purchase

Same

Current Homeowner –

Amount of Credit

$6500

($3250 married

filing separate)

Effective Date –

Current Owner

Date of Enactment

Current Homeowner –

Definition for Eligibility

sold or being sold as a

principal residence

consecutively for 5 of the

previous 8 years

Purchases after

November 30, 2009.

(Becomes April 30, 2010 on

Date of Enactment.)

Purchases after

April 30, 2010

So long as a written binding

contract to purchase is in

effect on April 30, 2010, the

purchaser will have until

July 1, 2010 to close.

Income Limits

(Note: Increased income

limits are effective as of

date of enactment of bill)

$75,000 – single

$150,000 – married

Additional $20,000 phase out

$125,000 – single

$225,000 – married

Additional $20,000 phase

out

Limitation on Cost of

Purchased Home

$800,000

Effective Date of Enactment

Effective Date of Enactment

Antifraud

Rule

documentation of purchase

to tax return