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Does the credit amount differ based on tax filing status?

April 26, 2017based credit differ filing Status tax

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Does the credit amount differ based on tax filing status?

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No. The credit is in general equal to $7,500 for a qualified home purchase, whether the home buyer files taxes as a single or married taxpayer. However, if a household files their taxes as “married filing separately” (in effect, filing two returns), then the credit of $7,500 is claimed as a $3,750 credit on each of the two returns.