New Tax Credits for First-Time Home Buyers | $15,000 Tax Credit Explained for New Homeowners

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The First-Time Homebuyer Act of 2021 will allow up to $15,000 in tax credits for first-time home buyers.

If the bill is passed by Congress, it will allow a credit equal to 10% of the purchase price of your new home, up to $15,000.

Watch this episode to find out who qualifies and all other details.

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).
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Key words:If it goes into effect. It still hasn't been passed.

lockport
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has this bill been passed yet. I bought my home in 2022?

ojc
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Thanks for the info! Do you have to apply to all limitations?

quintaesiareed
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If you owe Federal or State taxes from prior yrs do you get the credit so your apply it to your amount owed?

javi
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Wow!! The maximum amount being 15k sucks for us Californians… 🤦🏾‍♂️ 10% of my home I just purchased is 60k!!!! I need all of dat!! 🤣🤣

growingwithjoy
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I heard it got shut down is this true?

dylanthomas
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Bought my house in December. Missed it by 14 days 🤡

Throwaway
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Hey everyone! Do we have an update if the 15k credit has passed?

igorstojanovic