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Mark D
Mark D, Enrolled Agent
Category: Tax
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Experience:  MBA, EA, Specializing in Business and Individual Tax Returns and Issues
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Im on a disability pension from Mass. i dont pay taxes. I

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I'm on a disability pension from Mass. i don't pay taxes. I purchased a condo in 2008. Can i take the home buyer tax credit?
Submitted: 7 years ago.
Category: Tax
Expert:  Mark D replied 7 years ago.

The first time home buyer tax credit is refundable. That means you can get the refund even if you do not otherwise pay taxes. If you otherwise qualify, you can claim the credit by filing Forms, 1040 and 5405. You will also need to attached the closing HUD statement to your return. Please keep in mind the credit for homes purchased in 2008 is $7,500 and must be repaid to the IRS in 15 equal annual installments beginning in 2010.


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