DC First Time Homebuyer's Tax Credit Renewed for 2012?
New condos in DCthinking that the D.C. First Time Homebuyer Tax Credit would be renewed
Did you wait until the new year to make a home purchase thinking that the D.C. First Time Homebuyer Tax Credit would be renewed yet again? You may have to wait until the end of 2012 to find out. Word to cooldcre from the office of Eleanor Holmes Norton this morning indicates that the popular credit has not yet been renewed for 2012.
The $5,000 credit had not expired since taking effect in 1997. It was renewed as part of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. Persons earning less than $90K were eligible for tax relief and those married and filing jointly took advantage of the $130K cap.
UPDATE: A call was just received from Congresswoman Norton's office indicating that they are still fighting for the tax credit, which historically has been made retroactive (sometimes at the end of a calendar year). This year it is part of a large tax extender package that hasn't moved yet.
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