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Mark D
Mark D, Enrolled Agent
Category: Tax
Satisfied Customers: 1249
Experience:  MBA, EA, Specializing in Business and Individual Tax Returns and Issues
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We purchased a home in November 2008 and applied/received the

Resolved Question:

We purchased a home in November 2008 and applied/received the $7500 Tax Credit/No Interest loan from the IRS in our 2008 taxes. Since we purchased so close to 2009, is there any way to switch over to the $8000 Tax credit with no penalties that is available now?
Submitted: 7 years ago.
Category: Tax
Expert:  Mark D replied 7 years ago.


Unfortunately, the determination for which First Time Homebuyer Credit a taxpayer qualifies for is based off of the closing escrow date. There is no way to change this to reflect the better credit. Please let me know if you have further questions.




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