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Senate approves $15,000 tax credit for homebuyers...

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#16 Zaximus


    I'm Brett Jensen

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Posted 05 February 2009 - 06:54 PM

How is that? Looks like a straight up tax credit to me.

They give you $7500, I'm guessing to help people with down payment and closing costs. In return, you owe the government $500 more in taxes every year for 15 years to pay it back. I guess it's basically taken out of your return.