8000 Tax Credit - First Time Buyers

Highlights of the updated First Time Home Buyer Federal Tax Credit included in the recently signed American Recovery & Reinvestment Act of 2009. See Claim8000.com for more details and FAQ's about the tax credit.

Category:

People & Blogs

Tags:

• First time home buyers
• $8
• 000 tax credit
• purchase first home

[TiffanyAShearer]

30 Shopping days remain for buyers to be under contract and qualify for the tax credit!

[ghostma13]

nigger lover

[rzwill79]

IT WORKS I GOT MY CHECK FROM THE GOVT :)

[joet86401]

my son was in college and i used him as a deduction, but he is under contract and will close by the end of june,,, can he claim this on his 2010 return? or just do an amenment to his 2009 even though we claimed him?

[aviatorairman2000]

I didn't owe them any back taxes and I finally got the check last week. The IRS took my interest they were supposed to award me due to the wait but I'm not complaining. I'd only be setting myself up for an audit. I did learn a few "tricks" however to ensure the process is expedited for those reading these posts.

[TiffanyAShearer]

You have to be offically under a binding contract by April 30, you have 2 months after that to actually close on the transaction, so June 30, 2010 is the last day you can close and take ownership of the home.

[TiffanyAShearer]

Well, if you are sure you will be purchasing you could file for an extension to complete your 2009 later. Or you could file and then amend your 2009 after the closing. I think amending your returns would be more time consuming than just asking for an extension. Talk to your tax preparer about how much an extension woudl costs, and start seriously shopping for a home!

[TiffanyAShearer]

Right, it's equal to 10% of the homes purchase price. The age of the home doesn't matter. Thanks.

[TiffanyAShearer]

Did you amend your 2008 taxes? Otherwise you would not have been able to claim it until your filed your 2009 taxes? Your accountant or person who prepares your taxes should be helping you. If you filed the claim correctly then you should receive the credit. I dont know your personal tax situation though, did you owe any back taxes??

[chauzac]

i only have 1 month left to look for a housse before it closes by April 30 ,2010. And i have not file my tax file for 2009 yet . So i filed the tax by april 15 ( since it is due first) then i have to wait until next year to claim the 8000 credit , is it correct ?.

Thank s