first time home buyer - owner loan » United States

how does first time home buyer tax credit work?

admin — Fri, 25 Mar 2011 09:21:11 +0000

karleebfree asked:

I qualify for this tax credit but I don’t know if it is already a part of the tax law for 2008. I purchased the home in May 2008. Should I file my taxes now or wait?

Edna

Can I take the first time home buyer credit if my fiance and I are on the title but he makes over $100,000?

admin — Tue, 01 Mar 2011 19:59:52 +0000

janicetnl asked:

We won’t get married until August of 2009, and his name will be on the loan since I make under $75000. I can be on the title or both of us can. Who is the home owner and qualifies for this First Time Home Buyer Credit?

Herbert

If my wife and I just purchased a new house this year can I claim the first time home buyer credit on my taxes?

admin — Thu, 27 Jan 2011 20:20:06 +0000

Nello B asked:

This is my first home purchase, but my wife has already owned a home. We are both on the new mortgage…

Ralph

Can I file my taxes online myself if I’m getting the $8,000 tax credit for being a First Time Home Buyer?

admin — Mon, 03 Jan 2011 17:40:36 +0000

George K. asked:

How does that work? Will I be able to do it online or will I have to take it to H&R Block or something? And will the government send me some kind of paperwork I’ll need or how do I go about proving I’m a first time home buyer?

Brandon

Tax implications for first time home buyer other than the federal credit?

admin — Fri, 19 Nov 2010 21:24:36 +0000

bcampolo asked:

I am closing on a home soon and would like to amend my 2008 tax return to claim the FTHB tax credit. Does amending a 2008 tax return solely for this credit affect any areas of the 1040x other than lines 7 & 10 (Credits & Total Tax)? Are any other areas affected by the purchase of a home in this situation? (I will be attaching form 5405 as well) Thanks!

Gilbert

Do I qualify for first time home buyer credit?

admin — Mon, 08 Nov 2010 07:36:59 +0000

Eric Wong asked:

My parents are planning to buy a home as their new principal residence and claim the $6,500 tax credit.

I am planning on buying a different home as my principal residence. Would I be disqualified from the 8,000 tax credit if they were to be joint purchasers on my new home?

Daniel

Can I use 1040A to claim the First Time Home Buyer tax credit?

admin — Thu, 10 Dec 2009 09:20:18 +0000

HealthyGal asked:

Which line on the 1040A is the First Time Home Buyer Tax Credit located? I know that I need to file Form 5405 with the 1040, but I wanted to know if it was possible to file Form 5405 with the 1040A.

Marilyn

Will my wife be eligible for the First-Time Home Buyer Credits?

admin — Thu, 10 Dec 2009 00:16:16 +0000

di_cassano asked:

I bought a home 2 years ago, the home owner is myself only. If my wife buys a $200,000 worth of home in February, will she be able to claim the $8,000 tax credit as a first time home buyer? Thanks.

Marion

First TIme Home Buyer Credit Do I repay?

admin — Tue, 03 Nov 2009 18:50:47 +0000

Dan Druff asked:

I recieved the $7500 repayment credit this year as a first time home buyer. Does obama’s new $8000 Home Buyer Credit Tax Stimulus plan nullify my repayment? Or did we just buy a little too soon?

Clarence

Do I get the first time home buyer tax credit this year or next year?

admin — Tue, 27 Oct 2009 04:50:09 +0000

Jane S asked:

Under the new stimulus first time home buyers get something like $7500 tax credit. If I bought a home in 2009, could I see the benefits in my tax refund when I file this month? Or will I have to wait until I file in 2010?

Francis