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I have a client who received the first time homebuyer credit
I have a client who received the first time homebuyer credit of $8000, they are now selling their home, 1 year shy of the 3 year period. How do we compute the recapture of tax.… read more
Stephanie B.
Stephanie B.
Accountant
Master's Degree
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To obtain the $8,000 tax credit in 2009 for purchasing a new
To obtain the $8,000 tax credit in 2009 for purchasing a new residence, did the buyer have to be a "first time buyer"?… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
We bought a house in March 2010 with the assumption we qualified
We bought a house in March 2010 with the assumption we qualified for the $6500 tax credit. We deferred our 2009 taxes per our real estate agent to qualify for the rebate. We owned a house in Florida f… read more
Jacy
Jacy
Bachelor's Degree
567 satisfied customers
My wife bought a house in april 2010 and qualified for the
My wife bought a house in april 2010 and qualified for the 8000 tax credit. But in 2010 I sold my house on a short sale. My house was in my name only as her house is in her name only. Question: Can sh… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
My husband and I got married on January 16, 2010. He had been
My husband and I got married on January 16, 2010. He had been a home owner for the last 9 years and sold his home in February 2010. I had lived in an apartment since Fall of 1999. We bought a house af… read more
JKCPA
JKCPA
Certified Public Accountant (CPA)
Bachelor's Degree
1,796 satisfied customers
my wife and i married in 2006 bought a new house in april 2010,
my wife and i married in 2006 bought a new house in april 2010, are we eligible for 6500 tax credit, she lived in the old home from feb 2004… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
I just puchased a condo, put in escrow in April and closed
I just puchased a condo, put in escrow in April and closed on 6/29/2010. I heard that I'll receive $8,000.00 from IRS. Do I have to submit a request to IRS ? If so, which form I have to use ? Thank yo… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
31,917 satisfied customers
I did not file a 1040 for 2009 as my gross income was under
I did not file a 1040 for 2009 as my gross income was under the $9000 limit. I bought a new house in April and have now in June sold my old house (35 year residency). I understand I am eligible for th… read more
Lev
Lev
44,347 satisfied customers
My question pertains to the 2010 home buyers credit. I want
My question pertains to the 2010 home buyer's credit. I want to know if I qualify for the 8k 'first time home buyer', 6500 'new home buyer' or no tax credit. My situation: In January of 2007 I refinan… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
3,136 satisfied customers
Question concerning the form 5405 for filing a tax credit,
Question concerning the form 5405 for filing a tax credit, The definition of HOME , or personal residence. An example a mobile home that is located in a mobile home community where the property is lea… read more
JKCPA
JKCPA
Certified Public Accountant (CPA)
Bachelor's Degree
1,796 satisfied customers
i own a home that i bought in may 2004 and lived in until august
i own a home that i bought in may 2004 and lived in until august 2008. During that period, 2006 i got married. The house has been rented out since august 2008 and my wife and I just closed on another … read more
Lev
Lev
44,347 satisfied customers
I purchased a house on 12/07/09 (REO) that i am fixing up.I
I purchased a house on 12/07/09 (REO) that i am fixing up.I plan to take the $8,000 on my '09 taxes. Currently, however, I live in a moble home and pay a lot fee. The city bought the trailer park on 0… read more
Jesse Handel
Jesse Handel
Tax Preparer and Chemist
Bachelor's Degree
161 satisfied customers
If I am a long time homeowner (lived in my home for the last
If I am a long time homeowner (lived in my home for the last 18 years) and I just got married last year, could my wife (who has never owned a home) be put on the title of the new house we are planning… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
I am trying to claim the $6,500 tax credit for the purchase
I am trying to claim the $6,500 tax credit for the purchase of a new home. I lived in my old that I sold for the previous 5 years. Here's where it gets cloudy. The new home is custom built - the const… read more
JKCPA
JKCPA
Certified Public Accountant (CPA)
Bachelor's Degree
1,796 satisfied customers
I filed my tax form with 5405 but can not file form 5405 because
I filed my tax form with 5405 but can not file form 5405 because the form says do not file. I am a single filer and my AGI is under 75000.00.… read more
Lev
Lev
44,347 satisfied customers
I am in the military and recently came back from a deployment
I am in the military and recently came back from a deployment in Iraq. My income during the time I spent in Iraq was tax free. So I only paid $90.30 in federal taxes for 2009. I also bought a $190,000… read more
JKCPA
JKCPA
Certified Public Accountant (CPA)
Bachelor's Degree
1,796 satisfied customers
I am married, we arebuilding our second house now. Our first
I am married, we are'building our second house now. Our first house was in wife's name. She had also lived in the house for over five years. we got married 3 years ago. The new house we are building w… read more
JKCPA
JKCPA
Certified Public Accountant (CPA)
Bachelor's Degree
1,796 satisfied customers
I am a retired handicapped senior. I have purchased a mobile
I am a retired handicapped senior. I have purchased a mobile home with financial assistance from a personal loan for @35,000. Can I qualify for the $8000 credit?… read more
Lev
Lev
44,347 satisfied customers
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