Basic Real Estate Tax Law Footnote 7

7. There is a one-time tax credit of up to $5,000 for homebuyers in the District of Columbia. To qualify for the credit the homeowner's gross income must be less than $90,000 ($130,000 for joint return) and they did not own a home in the District of Columbia for at least one year prior to buying the new home. Those whose income is over $70,000 will receive a reduced tax credit. (I.R.C. § 1400c)