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How will new jumbo loan limits affect the housing market?
The federal government’s intervention in the housing market is about to show its face again. Much of the housing market has been more or less stuck in neutral–or even reverse–since the federal income tax credits of 2o10 expired. They caused a home buying frenzy in early 2010, as many buyers bought homes sooner than they …
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How do I claim a residential energy credit on my federal income taxes?
In an effort to give homeowners and incentive to make their homes more energy efficient, the federal government offers a tax credit of up to $1,500 for people who make certain improvements to their homes. Use Form 5695 to claim this deduction. The improvements must be for your main home, not a second home or …
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How do I claim the home buyer tax credit on my federal income taxes?
In an attempt to get people to buy houses in 2010, the federal government enacted a series of tax credits to give money back to people who bought homes during the first part of 2010. It is truly a giveback: if you qualify for the credit, the government will give you money. For example, if …