Home/Residence-Related Tax Changes | |
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Discharge of Qualified Principal Residence Indebtedness The Emergency Economic Stabilization Act of 2008 extended the exclusion from gross income for the discharge of qualified principal residence indebtedness by an additional 3 years. First-Time Homebuyer Credit If you are a first-time homebuyer you may be able to claim a one-time tax credit. Sale of Main Home Gain from the sale or exchange of the main home is no longer excludable from income if allocable to periods of nonqualified use. |
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Page Last Reviewed or Updated: November 26, 2009