Comments on: How to Claim the $8,000 Home Buyer Tax Credit of 2009

By: marsha

marsha — Wed, 20 Apr 2011 13:32:40 +0000

What did you find out about having to pay back the 8000? How long do you have to live there before you don’t owe?

By: Chenney

Chenney — Fri, 15 Apr 2011 06:41:30 +0000

I co -signed for a friend to buy an house in october, 2009. Will i be able to get my share from the $8,000 that he personaly claimed in his refund?

By: Kelli

Kelli — Thu, 14 Apr 2011 15:11:00 +0000

Gary,
Your post in response to Trey’s question provided a lot of useful information for me, however, I did want to ask you something, regarding my particular case.
I purchased my home July 2009, in my name. I now am engaged and seeking to relocate to another state to be with my soon-to-be husband, therefor I am looking to rent out my home. I do know that I will be, when doing so, entitled to repay the IRS for the $8,000.00 credit… My question is, do they allow you to make payments? I am terrified to put myself in a position where I am slapped with a bill of $8,000.00 due immediately, because I simply do not have this kind of money. I am a single mother, looking to be with the one I love… kind of tough situation for me right now…

Please provide any helpful information.
Thank you,
Kelli

By: Gary

Gary — Mon, 07 Mar 2011 16:45:50 +0000

Trey,
Figure out some way to stay in that house long enough to satisfy the 3 year rule. If you sell the home, you must repay the entire $8,000 in the year you sell it. While it may cramp your style for a while, selling the house within the 36 months following the purchase carries too much of a penalty not to stick it out. I know a couple who had a similar situation and they went ahead and purchased another home. They rented out the house they received the $8,000 credit on and thought they’d slid by but when the husband applied for a student loan last month he was denied. The IRS figured out what he’d done by simply matching up social security numbers on the 1098 (mortgage interest paid) forms. He is now facing fraud charges plus being ineligible for any student loans from the government for at least the next 5 years or until he repays the $8,000, whichever occurs first. It’s just not worth it to try an end run around the rules. Your reference to paying it back over the next 15 years dates back to an earlier program where the maximum credit was $7,500 and it had to be paid back at $500 per year regardless of the circumstances. In other words that program was a loan and not a tax credit. I hope this helps.

By: trey

trey — Mon, 07 Mar 2011 02:01:24 +0000

Bought a home in Oct 2009. Qualified for 8K tax credit. However, we will be having our third child in October of this year and need to upsize. Will we have to pay the 8K back immediately or over the next 15 years?

Thanks for any advice you can provide!

By: isabel

isabel — Thu, 27 Jan 2011 22:16:36 +0000

i have a question, me and my husband is a new home buyer home, we bought a house lastyear july 13, 2010 and we heard that they extendent the 8000 credit, and my husband also is a us army, are we qualify for the 8000 credit?? thnx…

By: debbie

debbie — Thu, 16 Sep 2010 19:51:00 +0000

Kathy did you get an answer to your question? My tax lady did my taxes wrong so and I was kind of in this situation like you.. I feel she should have known better. Wondering if I have a leg to stand on and sue her for the $8K!! deb

By: mimi

mimi — Sat, 11 Sep 2010 15:27:00 +0000

I don ‘t think that you qualify, 1st timehomebuyers who have not owned a home within the last three years.

By: Ssells

Ssells — Sat, 11 Sep 2010 15:24:00 +0000

When you file the amended return, it allows you to make any changes, i.e. you can now claim head of household instead of “married filing separate”.

The definition of a 1st time homebuyer does include divorce.

By: jerry

jerry — Mon, 30 Aug 2010 17:03:00 +0000

Flexo
What if a person has a criminal history??
Can they claim the $8000 tax credit???
There are 2 simple assault charges.

By: Kathy Burghart

Kathy Burghart — Thu, 15 Jul 2010 22:07:14 +0000

I thought I qualified for the $8000 credit, but now I’m not sure. I was married to a man who owned a house before we married. Our divorce was final 06/24/2010 and I bought my own home. I filed a extension on my 2009 taxes so I could include the $8000. But I read that if you file “married filing seperate, you wouldn’t qualify. Should I wait and file the credit on my 2010 taxes or does it make a difference? Do I qualify?

By: Stacey

Stacey — Thu, 15 Jul 2010 16:35:12 +0000

Could someone please help me? I am filing my 1040x and the amount on line 20 is equalling $7,833 ($167.00) less than the 8,000…however $167 is on my line 8 and 9 of the revised 1040x I am not sure what I am doing wrong…I think I have calculated wrong but I just dont know…I would appreciate any help…I am using my 2009 tax returns I filed 1040….Any help would be great..

By: Justin

Justin — Tue, 13 Jul 2010 15:46:02 +0000

Did you ever get an answer to this question? If so, what state are did you file from?

By: mikki

mikki — Thu, 08 Jul 2010 19:47:32 +0000

I have a question regarding the first time homebuyers credit and would appreciate any help I can get. My husband and I bought/closed on a home on December 17, 2009. Because of bad credit, my father-in-law co-signed the loan for us. The warranty deed along with tax appraisal district show us as 100% ownership, with my father-in-law not being even listed. However, the HUD-1 statement does list him because he co-signed for the loan. My father-in-law does not qualify for the first time home buyers credit. When I sent in the 5405, I provided copies of the HUD-1 as required along with the warranty deed. I was just informed that the return has been placed in review and I am panicking, could the co-signer knock us out of the credit? Thanks in advanced for any help.

By: wilder boar

wilder boar — Tue, 06 Jul 2010 04:48:31 +0000

Visit all the complaint sites online. Thousands who legally and legitimatly became first time homebuyers in 2009, are still fighting long months, somew ill figh the IRS for a full year or two, to get the refund promised by the FED.The FED doesn’t have the money. Caveat emptor. Beware, with the more open license the FED gave the IRS this Spring the IRS can deny any rebate for any reason or construct that reason from interpretation of their own internal rules not known to the public.

By: Desiree

Desiree — Thu, 03 Jun 2010 18:27:31 +0000

Can I apply for my own first time buyer tax credit? Or must I have H&R block do it?

By: Alex

Alex — Tue, 18 May 2010 20:14:46 +0000

I bought land in another state, Missouri in 2006 – 2007 as an investment. I was sent a 1098 Form from the seller as I only had a “Contract for deed” in 2007 and did my taxes using turbotax. the land was vacant and undeveloped, there was never a home on it. When I bought my first home in 2009 in California I applied for the first time home buyer’s credit. But I found out I was denied because of the Form 1098 in 2007 taxes. I have since lost the land to theft, but I never declared this my primary address. how can I prove to the IRS this is just a misunderstanding?

By: Sharon

Sharon — Fri, 30 Apr 2010 06:07:20 +0000

I purchased my new home in 2009. file my taxes this year 2010. the IRS rejected my $8000 credit

By: Kathy Burghart

Kathy Burghart — Tue, 06 Apr 2010 21:16:01 +0000

My husband and I have filed for a divorce, I am buying a new home of my own and qualify for the $8000. If I file my 2009 tax return with him will I loose the credit because he owns a house? The house is in his name only and was his before we married. If I file alone, I take a big hit because I’m filing Married filing separate. I do not want to loose my $8000 but I don’t want to pay in either! Help!

Kathy

By: Jessica

Jessica — Thu, 25 Mar 2010 00:52:49 +0000

My question is I purchased my home in September of 2006 but refinance my mortgage in November 2009. I had an adjustable rate and now have a fixed rate. Do I qualify for the credit?

By: Michelle

Michelle — Tue, 16 Mar 2010 13:33:07 +0000

Our situation is that my husband and I lived in my Grandfather’s coop that we didn’t buy but had to be in my name only in order that we could live there by the cooperative’s standards. We knew when we moved we’d have to sell the coop and give the money to my Grandfather. We vacated the premises August 2006, still paying only maintenance. Sold in June 2008. We paid only maintenance while living there and until it was sold. When it was sold, I gave proceeds of sale back to Grandfather’s estate, since we never really owned it or bought it. My husband wants to buy a house and was not the coop share stock or any of the records. He is getting the mortgage on his own and will be only one on titile. He will close by the end of April 2010. Can he claim the $8000 or even half of it, even though he’s married to me and my name was on the coop even though I didn’t own it, only in writing? Thanks for any advice to this sticky situation.

By: jaymeee

jaymeee — Mon, 15 Mar 2010 06:47:28 +0000

I purchaced my home december 31, 2008 is there any way possible i can be qualify for the 8,000 tax credit?

By: NM

NM — Fri, 05 Mar 2010 18:11:31 +0000

My apologies if this question has already been answered. I received my $8000 tax credit already. I saw one of the requirements of accepting the credit was that you would remain in the home for 3 years or you would have to pay it back.

Can I rent the house to someone if I need to move within the 3 years? Any other tricks or special conditions that would make me exempt from having to repay the $8000?

By: Kelly

Kelly — Mon, 01 Mar 2010 21:46:15 +0000

Read the answer for “Flexo” posted Jan 25, 2010.

By: Edmond Difulvio

Edmond Difulvio — Sun, 28 Feb 2010 16:14:51 +0000

My wife and I purchased a $200,000 home on Jan 7th, 2009. I did my taxes as soon as my W-2 was posted and filed before January 2009 was over. At the time I qualified for the 7500.00 payback credit under the 2008 extention of the original law. The law changed in late February to the 8000.00 no-payback credit for homes purchased in 2009,which I technically also fall under, can I ammend my return for 2008 or add a form to my 2009 return to change my credit and get my $500.00 and not pay it back?

By: C Desai

C Desai — Sat, 27 Feb 2010 01:28:44 +0000

I am really having a hard time trying to understand how to claim first time home buyer credit for myself and my parents..I along with my parents bought a home in 2009, my parents file jointly and I file my own taxes, now my question is do we split the credit into 50-50 between them and me? While filling this is what “percent allocation help tab” explains – any percentage of the credit can be allocated to a partial owner as long as owner is eligible. If you are partial owner of a residence you could allocate up to 100% of the credit to yourself. You could also allocate up to 100% of the credit to any one of the partial owners. Can someone one help me interpret this better?

By: AB

AB — Mon, 22 Feb 2010 16:56:47 +0000

I have a question about proof of ownership for this credit. Does my wife’s name have to be on the mortgage too? Due to a better rate, I got the mortgage only in my name. But both my wife and I are listed on the HUD-1 settlement form and we have been filing taxes jointly ever since we got married.

By: CW

CW — Sat, 20 Feb 2010 21:36:56 +0000

So my situation is as follows: I purchased the home which I had grown up in in April of 2009 from my mother. I have taken out a mortgage and paid $180,000 for the home. I have all the proper documentation from the bank. Unfortunately it seems that even though this was a legal and on the up and up purchase that I cannot claim the credit. Any advice as to whether or not I can claim the credit? I’m beyond frustrated as this was not a gift, and I have taken this on as my own main residence now with a thirty year mortgage. Any advice would be appreciated.

Thank you

By: Eirn

Eirn — Sat, 20 Feb 2010 19:19:33 +0000

What if I buy a house in 2010 (before the deadline of April 30) – can I still claim it on my 2009 taxes>

By: Gregory Ackerberg

Gregory Ackerberg — Sat, 20 Feb 2010 15:23:46 +0000

My ex wife and I were divorced Feb 19. In June 2009 she signed a quit caim deed and I refinanced the house we had previously lived in for 12 years in my name only and gave her half the equity. Now that we are divorced is it legal to sell her the house and for her to claim the $6500 tax credit??? Please don’t respond if you are just guessing. Thank you

By: Andy

Andy — Fri, 19 Feb 2010 15:20:26 +0000

Very comprehensive set of instructions. The IRS should refer people here. Also, found that the software packages for tax filing did a pretty decent job of walking one through claiming the credit.

By: V

Wed, 17 Feb 2010 13:02:19 +0000

Hi,
I purchased a home in July of 2005. I recently purchased a new home on December 2009. I have not sold my old home yet. Do I qualify for the existing Home Buyer Tax Credit?

Thanks,
V

By: Tammy T

Tammy T — Mon, 15 Feb 2010 17:04:31 +0000

My husband & I have not owned a personal home for 4 years. But, we built & sold a speck house in 2007. We never lived in the house & there was no motgage in our name, just the builders loan was in our name. We built our personal house & closed in January 2010. Do we still qualify for the $8000 credit?
Any info would be greatly appreciated!!

By: jerry

jerry — Mon, 15 Feb 2010 01:00:23 +0000

Wanted to know three things

1) Can I use this tax credit towards the downpayment and if so how do I go about doing this

2) If I am default on a student loan can they seize this tax credit or is this considered something different.

3) If I buy the house in my name can I have a check payable to my corporation instead of myself
My taxes are filed under the corporation and I am considered an employee.

By: Thom Search

Thom Search — Thu, 11 Feb 2010 19:17:42 +0000

Hi, Here’s what I have. I live in Maui,Hawaii and I’m renting. I just bought a home in Dahlonega, Ga.I will be closing on it March 5,2010. My wifes is an editor for a wedding magazine here in Maui but will be able to do her job online from Dahlonega, Ga. I have a commit here where I can’t leave. Our new home loan is based on our Maui income. I guess here is the question. Can my wife live in the new home full time still working for her Maui employer and myself live in Maui and still get the $8,000.00 tax credit? Hope I made sense Thanks in advance.

Thom Search

By: Rachel

Rachel — Wed, 10 Feb 2010 23:55:53 +0000

My husband and I signed a land contract in February 2008. So this means we can’t get the $7500 tax credit? Besides getting a mortgage before April 31st, is there any way to get this tax credit? Redoing the land contract or renewing it wouldn’t help us to receive the credit, would it?

By: snesbit

snesbit — Wed, 10 Feb 2010 07:31:42 +0000

My husband owe the goverment for an overpayment but arrangrments was made and he being keepin since he start paying back. will they take the balance from the 8,000 credit or will they just leave him alone since he’s not in default.

By: justmarried

justmarried — Tue, 09 Feb 2010 16:08:50 +0000

Kerry,
I’ve ready several places that eligibility for the tax credit is determined at the time of purchase.

but I’m in sort of the same situation:
I do not qualify for the tax credit, in Oct 2009 my fiance and I bought a home together. she does qualify. in Nov 2009 we got married. i found this to show that she can in fact claim the full tax credit:
http://www.irs.gov/newsroom/article/0,,id=206294,00.html

what i haven’t been able to figure out is if i can file “married filing jointly” or not.

anybody know???

By: KJ

KJ — Tue, 09 Feb 2010 00:12:12 +0000

My salary is 120,000 dollars. However, if I do overtime which is probably the case, it can go up to 130,000. If I buy the house in april this year, Can i file for the 8000 dollars this year or I will have to wait for next year? And do they consider my base salary when determining my eligibility or they take into account my overtime?

By: Cam

Cam — Mon, 08 Feb 2010 05:13:37 +0000

You can still amend you 2008 tax return for this credit. If you amend your taxes for that year you should be able to get the credit bc you weren’t married then.

By: Kerry

Kerry — Wed, 03 Feb 2010 01:34:34 +0000

I purchased & closed on my home of my own accord on 9/4/09. I qualify for the tax credit as I have never owned a home before. However, I got married on 10/10/09 to a man who has owned a house in the last 36 months. Does HIS past disqualify ME even though I purchased the home before we got married?

By: Robo

Robo — Tue, 02 Feb 2010 14:00:58 +0000

I bought a home on 11/06/09 my income is over the limit to receive the 8k credit for a single person. I was married on 11/14/09 but my wife was not involved in the purchase of our home. If we file jointly, do we qualify for the 8k credit since our joint income does not exceed the limit?

By: Lisa

Lisa — Tue, 02 Feb 2010 05:34:32 +0000

I filed for the return with my 2008 taxes and purchased my house in July 2008. I am filing my 2009 taxes…. Do I need to report this as income, or something? Do I need to pay taxes on this?

By: Jessica

Jessica — Mon, 01 Feb 2010 16:32:58 +0000

My husband and I bought our first home in August of 2009, expecting to receive the first-time homebuyer credit. We purchased our home from his mother, who has retired and has moved. Is it true that because we purchased the home from a relative, we don’t qualify for the $8000 tax credit? Is there anyway to get around it?
Thanks!

By: Frank Marino

Frank Marino — Sun, 31 Jan 2010 22:47:31 +0000

My son is buying his first time home March 12 2010. He is getting 5000 back before the 8000 tax rebate. He wants to send his tax in now get the 5000 back (maybe by efile). Then he wants me to amend his tax in March after his purchase. He does already have a signed contract to purchase with dates the and price. I’m afraid this might cause problems and long delays. I prefer him to wait to March and file it all. Do for see any problems or long delays with his 8000 rebate by amending it in March?

By: Skyler

Skyler — Sun, 31 Jan 2010 21:11:44 +0000

I built a house (my first home) starting in 2008 – I closed on the loan in Dec. of 2008 but did not move into the house until 2009. Do I qualify for the 8000.00 rebate?

Thanks, Skyler

By: jayson

jayson — Sun, 31 Jan 2010 15:33:12 +0000

Hello quick question do i still qualify for the first time homebuyer credit for 2008 if i closed on my home in 02/2008 ?? I find it very confusing, first off it says: this applies only if you purchased your home 4/30/08, but in a different area it states if u purchased your home and have not lived in it for about three years?? does this even apply to me and my wife, hence the word ‘first time home buyer credit ?? can someone please clarify this for me ??

By: McKittle

McKittle — Wed, 27 Jan 2010 19:24:50 +0000

Do we qualify?

My husband and I bought a home in May 2009. I have not owned a home for three years. My husband, however, is a different story. He was moved out of his house in April 2006 and then divorced in July 2006….his x-wife got the house.

Can we still claim the credit?

By: Jeff

Jeff — Tue, 26 Jan 2010 15:37:45 +0000

My wife and i were just purchased a house in late October of 2009. Unfortunately due to lack of employment and unforseen circumstances, and in order to get a decent rate I had to get my father to get the loan for us.
We signed some documents that said we were on the mortgage. ( From what i undertand, that is different from the loan) Does that just meen we are financially responsible for the payments?
My wife and I are both on the Deed, and neither of us have ever owned a home before.
I have read mixed answers about whether or not we qualify for this $8000 tax credit.
My buddy works for the IRS, and he said he was pretty sure we would, since it was our first home.
Do we qualify or not?

By: Tammy T

Tammy T — Mon, 25 Jan 2010 18:28:47 +0000