first-time homebuyer tax credit

Most Confusing Parts Of The Income Tax Code, Part 8: The First-Time Homebuyer Tax Credit

Many provisions of the Internal Revenue Code are complicated. Proper interpretation of the rules and regulations contained in these provisions requires the assistance of an experienced and knowledgeable tax professional. This part of our series about the most confusing provisions of the Internal Revenue Code addresses the gone but not forgotten first-time homebuyer tax credit.

Why Is It Confusing?

  • Different versions for different types of home buyers
  • Most credits have expired but their effect is long-lasting