Comments on: Questions About the $8,000 First Time Homebuyer Tax Credit http://ptmoney.com/2009/10/01/questions-about-the-8000-first-time-homebuyer-tax-credit/ Real Personal Finance for a Life Without Limits! Fri, 19 Mar 2010 17:49:20 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Jill http://ptmoney.com/2009/10/01/questions-about-the-8000-first-time-homebuyer-tax-credit/comment-page-1/#comment-8051 Jill Wed, 10 Mar 2010 19:56:19 +0000 http://ptmoney.com/?p=3877#comment-8051 I have a questions, we are in the process of building a home. Would we qualify for this $8,000 tax credit? We have not owned a house in 5 years and we own the property that the house is being built. If we do qualify, what is the process on getting the money? We have a contractor building it. It will be done before June but do we need to do a sales contract on it before April 30th? Please help! I have a questions, we are in the process of building a home. Would we qualify for this $8,000 tax credit? We have not owned a house in 5 years and we own the property that the house is being built. If we do qualify, what is the process on getting the money? We have a contractor building it. It will be done before June but do we need to do a sales contract on it before April 30th? Please help!

]]> By: Amit http://ptmoney.com/2009/10/01/questions-about-the-8000-first-time-homebuyer-tax-credit/comment-page-1/#comment-8024 Amit Wed, 10 Mar 2010 05:04:21 +0000 http://ptmoney.com/?p=3877#comment-8024 Joint income above the MAGI limit. My income above the MAGI limit. Spouse's income below the MAGI limit. Can she get the credit if we file separately? The house is jointly owned. If yes, can the mortgage interest and tax credits be on my rtrn or do they have to be on hers since she is claiming the credit? Joint income above the MAGI limit. My income above the MAGI limit. Spouse’s income below the MAGI limit. Can she get the credit if we file separately? The house is jointly owned. If yes, can the mortgage interest and tax credits be on my rtrn or do they have to be on hers since she is claiming the credit?

]]> By: Elayne Montie http://ptmoney.com/2009/10/01/questions-about-the-8000-first-time-homebuyer-tax-credit/comment-page-1/#comment-6895 Elayne Montie Tue, 16 Feb 2010 15:58:24 +0000 http://ptmoney.com/?p=3877#comment-6895 Why does the IRS disqualify a parent from selling home to a son or daughter. Is there a way that it can be done Why does the IRS disqualify a parent from selling home to a son or daughter. Is
there a way that it can be done

]]> By: PT http://ptmoney.com/2009/10/01/questions-about-the-8000-first-time-homebuyer-tax-credit/comment-page-1/#comment-6729 PT Tue, 09 Feb 2010 20:15:25 +0000 http://ptmoney.com/?p=3877#comment-6729 @brent - IRS.gov or call their hotline. Or go see a CPA. It will be worth it to talk with a pro. @brent – IRS.gov or call their hotline. Or go see a CPA. It will be worth it to talk with a pro.

]]> By: brent Marteady http://ptmoney.com/2009/10/01/questions-about-the-8000-first-time-homebuyer-tax-credit/comment-page-1/#comment-6728 brent Marteady Tue, 09 Feb 2010 20:12:02 +0000 http://ptmoney.com/?p=3877#comment-6728 k thanks but whare can I fined all info on it and file for the 8000. Thanks. Brent Maready k thanks but whare can I fined all info on it and file for the 8000. Thanks. Brent Maready

]]> By: PT http://ptmoney.com/2009/10/01/questions-about-the-8000-first-time-homebuyer-tax-credit/comment-page-1/#comment-6726 PT Tue, 09 Feb 2010 15:13:37 +0000 http://ptmoney.com/?p=3877#comment-6726 @krista - taxes back plus 8k @Brent - yep, as long as you spent 80,000 building it. You can get the credit for a home you build. According to the instructions for Form 5405, "if you constructed your main home, you are treated as having purchased it on the date you first occupied it." @krista – taxes back plus 8k

@Brent – yep, as long as you spent 80,000 building it. You can get the credit for a home you build. According to the instructions for Form 5405, “if you constructed your main home, you are treated as having purchased it on the date you first occupied it.”

]]> By: Brent Maready http://ptmoney.com/2009/10/01/questions-about-the-8000-first-time-homebuyer-tax-credit/comment-page-1/#comment-6725 Brent Maready Tue, 09 Feb 2010 06:50:45 +0000 http://ptmoney.com/?p=3877#comment-6725 Hi what if you build your on home do you still qualifie for 8000 dollers Thanks Brent Maready Hi what if you build your on home
do you still qualifie for 8000 dollers
Thanks
Brent Maready

]]> By: krista http://ptmoney.com/2009/10/01/questions-about-the-8000-first-time-homebuyer-tax-credit/comment-page-1/#comment-6614 krista Sun, 31 Jan 2010 23:15:23 +0000 http://ptmoney.com/?p=3877#comment-6614 Okay sorry i didn't really understand how you answered that. did you mean yep the total taxes back would equal 8,000. or yep we would get our taxes back plus the 8,000? sorry =) Okay sorry i didn’t really understand how you answered that. did you mean yep the total taxes back would equal 8,000. or yep we would get our taxes back plus the 8,000? sorry =)

]]> By: PT http://ptmoney.com/2009/10/01/questions-about-the-8000-first-time-homebuyer-tax-credit/comment-page-1/#comment-6607 PT Sun, 31 Jan 2010 20:32:52 +0000 http://ptmoney.com/?p=3877#comment-6607 @Krista - Yep, the credit would just be on top of your other refund. @Krista – Yep, the credit would just be on top of your other refund.

]]> By: Krista http://ptmoney.com/2009/10/01/questions-about-the-8000-first-time-homebuyer-tax-credit/comment-page-1/#comment-6606 Krista Sun, 31 Jan 2010 20:12:54 +0000 http://ptmoney.com/?p=3877#comment-6606 When filing for the 8,000 taxe credit if we qualify for the full amount, do we also get our original taxes on top of that? or just an amount equaling 8,000? When filing for the 8,000 taxe credit if we qualify for the full amount, do we also get our original taxes on top of that? or just an amount equaling 8,000?

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