First Time Buyer Tax Credit Update & Info
Tuesday, 3 March 2009 by Dave
There have been countless reports regarding the modified tax credit for first time buyers in 2009. With so many different reports and such we thought it might be helpful to pass along a few links to get you moving in the right direction if you’re thinking about purchasing a primary residence in 2009 and are curious as to qualification guidelines, etc regarding the credit.
Here is a link that seems to have a pretty decent FAQ regarding the tax credit.
Even more enticing is this release regarding your ability to take the credit on your 2008 taxes if you haven’t already filed. My understanding is that you can take the tax credit on your 2008 taxes even if you haven’t purchased a home prior to filing. If you end up not purchasing a home by the end of 2009 you will be on the hook for paying the credit back.
While there is plenty of discussion on the benefits of this tax credit and the qualifications necessary for receiving it, please be sure to consult your tax professional as well as an attorney to be sure that you are making an educated decision regarding your home purchase and your ability to actually receive the tax credit.
Update: Here is the actual form that you will need to use to file for the tax credit.
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