First-Time Home Buyer Tax Credit: 6 Things to Know

first home buyer stimulus

lump sum refund or credit towards taxes owed

justin bowers of WA @ Nov 13, 2009 14:15:09 PM

Haters

Hey Aloha girl, they do check, you have to send in a copy of the signed HUD statement & we already owe China 2 trillion dollars thanks to George W Bush and the fabulous war in Iraq. Also, the debt was 13 Trillion last Halloween according the Nationaldebtclock.org and it's still hovering around 13 trillion, so save the vitriol for Obama's predecessor and have a nice day!:)

nightin65 of OH @ Nov 12, 2009 20:21:05 PM

first home buyer stimulus

I'm confused. Do you get the money in a lump sum after you get your home? Do you just get tax credit on your income tax? What if you don't have to pay income tax & get a little back each year instead? Where and when and how does the money come into your hands? Help!

Peggy of WV @ Nov 12, 2009 08:35:35 AM

Building a First Home

Be aware that if you are building a new home as your first home, the IRS considers it to be purchased on the date you first occupy it, not at closing. Even though I started the process in June, my house will not be completed until January. I would have missed out on the first time homebuyers tax credit if it were not for the extension.

D. Lewis of OH @ Nov 10, 2009 17:02:54 PM

really?

The reason you aren't getting the money is the government is broke.

ANd they allowed thousands of cheaters to claim the credit who

do not qualify. They don't have a way to check, because Obama

and the democrats wanted people to cheat and get this money

even when they don't qualify. The whole point is to break the USA and

ruin our society. Where do you think this money is coming from?????? WE ARE BROKE!!!! Ever hear of a little thing called the deficit? In the trillions??? They are literally moving money around to create the ILLUSION of these credits. Why? Because it doesn't matter to this president. He doesn't care about

you, if he gets his way, you will be penalized for not participating in the government run healthcare, but on page 114 of the healthcare bill, it provides EXEMPTIONS for him, his family and his staffers. If it is so great, why is

HE EXEMPT FROM PARTICIPATING? You aren't. This president wants people to be distracted by this so they don't notice him destroying USA by draining money out of the US as fast as he possibly can. Next thing you know,

he will borrow money from China, or worse. Then where will we be?

aloha girl of NC @ Nov 10, 2009 16:22:31 PM

tax credit

hey

i have a question

i meet all these condition except I did purchase my home a week before 4/8/2008 it means i can not get the tax credit?

this is our first home in our whole life after 40 years.

natasha of GA @ Nov 10, 2009 15:34:58 PM

co-ownership

Can a parent be on the loan (and they are not first time buyers) of their son's 1st home purchase? Our son doesn't have the credit yet needed to own in its' entirety.

lynne of IL @ Nov 10, 2009 09:31:20 AM

Don't Count on it!

I bought my house May 8th and submitted for the first time home buyers credit on my 2008 taxes on May 12th. I still haven't recieved any money. My file went through exams and they approved the return on Aug 31st. It has been a total of 180 days. Here is my message to the President: Mr. Obama, The reason this economy isn't doing better is because the people responsible for handling your incentives are slackers or just plain stupid. DO NOT COUNT ON THIS MONEY FOR ANYTHING IMPORTANT!

OhMan of RI @ Nov 10, 2009 04:47:09 AM