If you are a first time homebuyer i.e. someone that has not owned a home in the last three years you may be able to claim the government’s $8,000 credit. To qualify single tax filers may not earn or than $75,000 per year – joint/married tax filers income cannot exceed $150,000.
Tens of thousands of people submitted suspicious claims for the first-time home buyer tax credit. Congress is weighing steeper documentation requirements if it extends the plan. – News Hub: Flaws in Home Tax-Break Program