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Is the amount of the first time buyers tax credit contingent upon your yearly salary?

In other words, is it possible to make too much money and not qualify for the credit?
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February 15 2009 - Long Island City
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This credit phases out for individuals making $75,000 or more, and couples making $150,000 or more.  (If an individual makes over $95,000 or a couple makes over $170,000, there is no credit).
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February 25 2009
 
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