Homebuyer Credit - Version 43.5

[MAJ]

Okay - so now they're talking about a $15k tax credit - yikes!!
I didn't realize realtors had that much pull in Washington!

Anyway... This seems insane!! To confirm:
This is a DIRECT $15k tax credit - similar to the $1000 child tax credit?
Not a reduction in taxable income by $15,000, correct?
Where can we find some specifc details on this {version to date}??

The most I've read so far was at: http://www.webcpa.com/article.cfm?articleid=30697

Seems rather steep to me... And, it's a wonderful thing.. Now if the people that NEED the homes {not those looking to capitalize on the credit} can actually get a loan!!

Thanks

[Larmil]

Okay - so now they're talking about a $15k tax credit - yikes!!
I didn't realize realtors had that much pull in Washington!

Anyway... This seems insane!! To confirm:
This is a DIRECT $15k tax credit - similar to the $1000 child tax credit?
Not a reduction in taxable income by $15,000, correct?
Where can we find some specifc details on this {version to date}??

The most I've read so far was at: http://www.webcpa.com/article.cfm?articleid=30697

Seems rather steep to me... And, it's a wonderful thing.. Now if the people that NEED the homes {not those looking to capitalize on the credit} can actually get a loan!!

Thanks

Article was dated 2/05/09.

[David1980]

http://www.thetaxbook.com/forums/showthread.php?t=10828