The Best First Time Home Buyer Tax Credts 2022. For 2009, this amount is $750. Line 31270 was line 369 before tax year 2019.

While it is not a huge amount of money, it’s. The first time home buyers' tax credit is designed to help recover closing costs such as legal expenses, inspections and land transfer taxes. The home buyers tax credit is calculated by multiplying the lowest personal income tax rate for the year (15% in 2009) by $5,000.





