Submitted By: Larrie
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

Acquisition debt

Debt used to buy, build, or construct a principal residence or second home and that generally qualifies for a full interest expense deduction.

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