| Real Estate Terms -> What are Home Loan Tax Credits |
Home Loan Tax Credits
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What are Home Loan Tax Credits? |
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There are special Government Programs which allow a home buyer to take a Tax Credit which saves more taxes than a typical Tax Deduction. After filling out a borrower’s income tax return and determining how much tax is owed, a Tax Credit can be subtracted from the total tax due. Therefore a Tax Credit is a dollar for dollar reduction of the taxes owed. |
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