Comments on: Questions About the $8,000 First Time Homebuyer Tax Credit

By: Kamila

Kamila — Thu, 01 Jan 1970 00:00:00 +0000

I purchased property in 2009, got the tax credit. Three years later I want to rent the first property out and buy a second property which will turn into my primary residence. Will I have to pay a penalty for renting the house I got the tax credit for?

By: Marcelo11

Marcelo11 — Thu, 01 Jan 1970 00:00:00 +0000

I purchased my property in June 2009 and recieved the 8k, we are planning to purchase before that date are we responsable to pay back the 8 even though we are purchasing a property again or will it be forgivin?

By: Debra Boggs

Debra Boggs — Thu, 01 Jan 1970 00:00:00 +0000

First I want to say that I did the 8000.00 deal and yes it’s for real. I recieved my 8000.00 about 6 weeks after I sent in my paper work. It was realllllll sweet. Now I have a question;
If I want to quick deed my house to my daughter will I have to repay it? I intend to remain in the house. It will just no longer be in my name.

By: Jeffrey

Jeffrey — Thu, 01 Jan 1970 00:00:00 +0000

My wife and I have just bought our first time house. She is a legal resident (not citizen yet) but I’m still waiting in the long process to become one soon. I have paid all my taxes since I came to this country in 2003. Could you tell me please whether we qualify for the $8,000 tax credit,please? Since we are married we do taxes together. Thank you!

By: Jill

Jill — Thu, 01 Jan 1970 00:00:00 +0000

I didn’t see an anwer on my question, Can you email it to me? Thanks Jill

By: Mary

Mary — Thu, 01 Jan 1970 00:00:00 +0000

Hi Phil,

Would I qualify for the first time home buyer tax credit if I am already the co-borrower on a home equity loan on my mom’s house? I am not on the original mortgage which purchased the house in any way. To process the home equity loan, though, the lender required that she add me to the deed on the house, so I’m a 50% owner. Does that disqualify me from the tax credit?

Thanks!

By: Karla

Karla — Thu, 01 Jan 1970 00:00:00 +0000

Hi, I want to buy a mobile home with my brother in law . I will live in the house, but not my brother in law . We are going to buy it cash. I owe taxes for 2005 . Will I qualify for the credit.

By: Jill

Jill — Thu, 01 Jan 1970 00:00:00 +0000

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

Amit — Thu, 01 Jan 1970 00:00:00 +0000

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

Elayne Montie — Thu, 01 Jan 1970 00:00:00 +0000

Why does the IRS disqualify a parent from selling home to a son or daughter. Is
there a way that it can be done