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i am on ssdi and widows pension(va). i dont file taxes .i want to buy a home and i would be a first time home buyer do i still qualify for the 8000 tax credit and if so how could i use it wisely towards the purchase?

Submitted: 26 days and 19 hours ago.

Category: Tax

Value: $15

Status: CLOSED

State/Country relating to question: Georgia

Already Tried:
i talked to a cpa she said no. i got mad(no fair)she said im a non taxpayer so i dont qualify.i pay taxes on every dollar i spend if i buy a foreclosed property i would have to pay their taxes and mine too.so i called the governors and senators people in d.c. ....told them to make up their minds either you pay or not

Accepted Answer

Hello,

Thanks for your question. I'm sorry that you have been misinformed by some supposedly professional people. However, there is only about 5 weeks left in order to buy a home and qualify for the credit.

If you have not owned a home in the last 3 years and you purchase a home in 2009 by 11/30/2009, you will qualify for the First Time Homebuyers Credit. It is a refundable credit which means that even if you report zero taxable income, you will get a refund of the credit.

The credit is 10% of the purchase price of the home up to $8000.

For more information, see First-Time Homebuyer Credit Questions and Answers: Homes Purchased in 2009

I hope I helped.
Sincerely,

Edited by JK_CPA on 10/27/2009 at 2:40 AM

Accepts:
Expert:	JK_CPA
Pos. Feedback:	100.0 %
Answered:	10/27/2009

Certified Public Accountant (CPA)

with 5 years accounting experience and 18 years tax experience.

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i am on ssdi and widows pension(va). i dont file taxes .i want to buy a home and i would be a first time home buyer do i still qualify for the 8000 tax credit and if so how could i use it wisely towards the purchase?

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i am on ssdi and widows pension(va). i dont file taxes .i want to buy a home and i would be a first time home buyer do i still qualify for the 8000 tax credit and if so how could i use it wisely towards the purchase?

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