Piperbox asked:
I never applied for the $7,500 tax credit last year. I bought my house last April and am wondering if I can take any advantage of Obamas new plan to give a 15,000 tax credit to first time home buyers.
I never applied for the $7,500 tax credit last year. I bought my house last April and am wondering if I can take any advantage of Obamas new plan to give a 15,000 tax credit to first time home buyers.
Does anybody know what I can/should do?
Francis
Leo
You should take the $7,500 tax free loan now. Assuming the $15,000 credit is passed, then you’ll probably get both, but we’ll have to wait and see.
Comment by Prophet 1102 — April 11, 2009 @ 11:43 pm
Stella
As of right now, the only first-time homebuyers credit is for $7,500 for home purchased between April 8, 2008 and July 1, 2009. No other credit is currently available.
Comment by JK Harris — April 13, 2009 @ 2:26 am
Marc
Ok, there are a lot of misconceptions going around about this. According to Senator Isakson’s website, “The amendment would allow taxpayers to claim the credit on their 2008 income tax return.” This means that you do not have to wait until 2010 to claim for the 2009 year. Also, it says that “Purchases must be made within one year of the legislation’s enactment, and the tax credit would not have to be repaid.” I interpret “within on year” to mean one year before the date of enactment or one year after the date of enactment. But nothing has been finalized.
Comment by David F — April 14, 2009 @ 2:42 pm