Thank you in advance for answering my question. I am planning
to purchase a home before December the first and need to ask how this will play out, Federal tax
Does this have a number or name to differentiate it between, from the similar credit offered earlier that is to pay back, and functions as an interest free loan.
Does the sale have to be in the works by December the first or completed, key in hand, by December the first?
My salary is gross 54,000.00 and I am single, and have the self deduction
only. I generally get about 344.00 to 475.00 back where I have over paid, witholding.
I will qualify as a firtst time buyer and the house is 100,000.00. While I will not live in the house immediately upon buying I will be moving into the house asap, and within a year. I have no other income. I will pay 10% down leaving 90,000.00 that I will borrow.
Will I get a check for $8,000.00 if I owe nothing to the government.
What defines permanet residence?