First-Time Homebuyer Individual Income Tax Credit

This federal tax credit is available to first-time homebuyers in the District of Columbia. The credit is the smaller of:

• $5,000, if single, married filing jointly, head-of-household, or qualifying widow(er) ($2,500, if married filing separately) or
• The purchase price of the home.

In general, you may claim the credit if:

• You purchased a main house during the tax year in the District of Columbia, and
• You (and your spouse, if married) did not own any other main home in the District of Columbia during the 1-year period ending on the date of purchase.

Income restrictions and other qualifications may apply. You must file the federal form 1040 to claim this credit. For more information, contact the US Internal Revenue Service at (800) 829-1040 or visit the local IRS Taxpayer Assistance Center at 500 North Capitol Street, NW, Washington, DC.

• Form 8859 District of Columbia First-Time Homebuyer Credit