KB HOME
			Symbol			KBH

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

Homebuyers May Qualify for Newly Extended Federal Tax Credit on a New KB Home

2009-11-06 13:41 ET - News Release

New Provision Also Expands Program to Include Many Current Homeowners

PHOENIX -- (Business Wire)

Many KB Home (NYSE: KBH) homebuyers now have a second chance to qualify for a federal tax credit on the purchase of their new home. The stimulus bill signed into law today extends the federal tax credit for first-time homebuyers to homes purchased before May 1, 2010 and closed before July 1, 2010. In addition to this extension, the program has been modified to include current homeowners and military personnel, as well as an increase in the maximum income allowed to qualify.

First-time homebuyers are eligible for an $8,000 fully refundable tax credit, which means it will be paid out even if a taxpayer owes no tax or if the credit is more than the tax they owe. Move-up buyers who have owned and lived in their home for at least five consecutive years out of the last eight are eligible for a credit of up to $6,500 on the purchase of a new residence. For members of the military, the deadline to qualify for either tax credit is extended through May 1, 2011 for those serving on qualified official extended duty service outside the U.S. for at least 90 days before May 1, 2010. No credit is allowed if the purchase price of the home exceeds $800,000.

The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try, click here for a free 30 day trial subscription.