Taxingly Simple by Tiffany - All Comments

re: The First-Time Home Buyer Credit is Extended into 2010

Tiffany — Mon, 11 Jan 2010 13:28:08 GMT

You closed on the home 1 day too early. The provision for existing homeowners is that they closed AFTER 11/06/09. You have to send the IRS the closing documents, usually the HUD, and it will show a date of 11/06/09.

If you had closed on 11/07/09 or after and your income did not exceed the maximum for your filing status, then it sound like you would have qualified.

I am sorry to deliver this bad news to you.

re: The First-Time Home Buyer Credit is Extended into 2010

ralph — Wed, 06 Jan 2010 02:41:52 GMT

we moved after 21 years in same house. We closed late in day on November 6th. Recording was on Nov. 9th. Do we qualify for the $6500 credit?

re: The First-Time Home Buyer Credit is Extended into 2010

Tiffany — Wed, 23 Dec 2009 13:51:42 GMT

The home must be your primary residence for three years, so renting it out does not meet the requirement. The only exception is for active duty military who are required to move after purchasing a first home.

re: The First-Time Home Buyer Credit is Extended into 2010

Eric Melton — Tue, 22 Dec 2009 20:53:40 GMT

Any way around the repayment of the $8k tax credit, if the home buyer does not use the home as their principal residence for 3 or more years?

For example, buying a home, but then moving away and renting it out.