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tax credit question - first time home owner

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enewedded
LIF Infant

Member since 3/09

272 total posts

Name:
Ellen

tax credit question - first time home owner

We were expecting to close this friday so we have held off on filing our taxes. We are still waiting to hear from the sellers bank if our offer was excepted. (short sale)
if i file my taxes now and we close after april 15th can i still file an amendment to receive the 8K first time home owner tax credit or do i have to wait for 2009 taxes?

thanks

Posted 3/25/09 11:05 AM
 
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Cheeks24
Living a dream

Member since 1/08

8589 total posts

Name:
Cheeks

Re: tax credit question - first time home owner

The tax credit is for the year you purchase your home, so you don't get it until you do your taxes next year which is when you file for 2009. You won't get it now because you didn't purchase the home in 2008.

Posted 3/25/09 11:13 AM
 

Janice
Sweet Jessie Quinn

Member since 5/05

27567 total posts

Name:
Janice

Re: tax credit question - first time home owner

my builder said we can file a change...just first make sure your original taxes are completely filed so you don't have any mixups

Posted 3/25/09 11:18 AM
 

Ophelia
she's baaccckkkk ;)

Member since 5/06

23378 total posts

Name:
remember, when Gulliver traveled....

Re: tax credit question - first time home owner

Q. Which home purchases qualify for the first-time homebuyer credit?
A. Only the purchase of a main home located in the United States qualifies. You must buy the home after April 8, 2008, and before July 1, 2009. For a home that you construct, the purchase date is the first date you occupy the home.
Taxpayers who owned a main home at any time during the three years prior to the date of purchase are not eligible for the credit. This means that first-time homebuyers and those who have not owned a home in the three years prior to a purchase can qualify for the credit. If you make an eligible purchase in 2008, you claim the first-time homebuyer credit on your 2008 tax return.
For an eligible purchase in 2009, you can choose to claim the credit on either your 2008 (or amended 2008 return) or 2009 return

Message edited 3/25/2009 1:11:40 PM.

Posted 3/25/09 1:10 PM
 
 

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