Comments on: Homebuyer’s Credit In Chart Form (Cause Who Doesn’t Love Charts?)

By: Who Should Pay Taxes? | taxgirl

Who Should Pay Taxes? | taxgirl — Mon, 15 Mar 2010 02:54:20 +0000

[...] to drive policy. Want people to buy new cars? Give them an extra tax deduction. Want people to buy new houses? Give them an extra tax credit. Want people to buy environmentally friendly products? Give them an [...]

By: ComeToMeToGetYourHandout

ComeToMeToGetYourHandout — Tue, 23 Feb 2010 15:57:40 +0000

OF COURSE they make it complicated–they have to make sure rich people (and corporations) get the money, the poor don’t have to pay for it, and, above all else, under any circumstances, I, as a healthy white single male who is a recent but not current homeowner and not self-employed or a business owner, or a student or parent, but has a certain level of income near the soc sec income cap, above all else I specifically should NEVER get ANY tax break, rebate, credit, forgiveness, deduction, exemption, or waiver. Never have in the past 15 years, other than the very minor income tax rate change, and I expect I never will.

It’s hard to do that, so the rules have to be complicated.

By: Roth & Company, P.C.

Roth & Company, P.C. — Tue, 23 Feb 2010 13:25:32 +0000

A thousand words of value on the homebuyer credit…

A great illustration of how the homebuyer credit works at TaxGrrrl’s place…….

By: Kelly

Kelly — Tue, 23 Feb 2010 12:00:01 +0000

There’s some truth to that… but I don’t think it’s *just* to make it complicated. I think Congress tries to write these crazy laws to win votes and ends up fouling up this one. I can just hear the conversation, “So people like these home credits and the real estate folks want it, so let’s do it again. Only let’s include more people – even people who have already bought a house. But not kids – we forgot about that last time, so no kids. And no foreigners, my constituents wouldn’t like that. And no rich people – but let’s say more income than before…”
And so it goes.

By: Christopher Ganiere

Christopher Ganiere — Tue, 23 Feb 2010 05:08:27 +0000

They make every part of the tax code complicated on purpose.

By: RW

RW — Mon, 22 Feb 2010 20:05:38 +0000

Nice chart, but its missing a link for answering No to “Owned home and lived in this home for more than 5 years”. I believe the answer to that response would be “No Credit”