The Home Buyer Tax Credits, Explained

From MarketWatch:

There's the $8,000 federal tax credit for first-time home buyers. And now California has upped the ante, offering a tax credit worth up to $10,000 to any home buyer, first time or not, of any income level, who buys a home between March 1, 2009 and March 1, 2010.
There's just one hitch to the California tax credit: You have to buy a newly-constructed home that's never been lived in.

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