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Submitted By: Larrie
Answered: August 20, 2013 8:30 am
Answered: August 20, 2013 8:30 am
Is there a first-time homebuyer credit for someone who buys a house in 2013?
No. The first-time homebuyer credit ended in 2010 and it has not been extended. There’s probably no chance that Congress will change its mind anytime soon because the housing market has picked up.
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Tax Glossary
Deferred compensation
A portion of earnings withheld by an employer or put into a retirement plan for distribution to the employee at a later date. If certain legal requirements are met, the deferred amount is not taxable until actually paid, for example, after retirement.
