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I have a client whose 2014 tax return was rejected because
I have a client whose 2014 tax return was rejected because they say a first time homebuyer payment is due. I guess I maybe misunderstanding what really needs to happen. On July 1, 2013 the main home w… read more
Lev
Lev
44,627 satisfied customers
I bought my Condo in 2008 before the crash and it stopped being
I bought my Condo in 2008 before the crash and it stopped being my home August 31, 2013. I had it foreclosed by the bank. I bought the condo ,000 and it ended up only being worth 32,000 but bank sold … read more
Barbara
Barbara
Enrolled Agent, Paralegal
24,664 satisfied customers
I bought my home in 2008 and received $7500 on the first time
I bought my home in 2008 and received $7500 on the first time home buyers credit. I am selling my home now and I need to know if I have to pay the balance back in full or if I keep making my $500 paym… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,667 satisfied customers
My son bought his first home (my husband cosigned so he could
My son bought his first home (my husband cosigned so he could get the loan but never lived there nor claimed any right to the property) in April 2008 and qualified for the first time homebuyer credit … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
24,361 satisfied customers
I bought a home in 2008 received the $7500 tax credit. I paid
I bought a home in 2008 received the $7500 tax credit. I paid $500 this past year with the 2010 tax return. I want to sell my house now. I need to know if the realtor fees are included as part of my f… read more
Lev
Lev
44,627 satisfied customers
I purchased my first home in May of 2009 and I recieved the
I purchased my first home in May of 2009 and I recieved the $8000 tax rebate.I did not want to wait until I filed my 2009 taxes to recieve the rebate,so I amended my 2008 return.Does the fact that my … read more
Lev
Lev
44,627 satisfied customers
I took the 2008 First time homebuyers credit of $7500. I converted
I took the 2008 First time homebuyers credit of $7500. I converted the house to a rental due to a job change in another city. Will I be responsible for the entire repayment this year?… read more
Wendy Reed
Wendy Reed
Enrolled Agent
Master's Degree
3,346 satisfied customers
My wife and I had purchased a home in 2008 and received the
My wife and I had purchased a home in 2008 and received the $7500 tax credit that we would have to repay. Last year I filed an individual Chapter 7 Bankruptcy that was discharged and included my mortg… read more
Lev
Lev
44,627 satisfied customers
is there any updated legislation that is allowing the taxpayers
is there any updated legislation that is allowing the taxpayers who were first time homebuyers in 2008 to not have to pay their credit back? i have a client who is still fighting the irs since last ye… read more
Wendy Reed
Wendy Reed
Enrolled Agent
Master's Degree
3,346 satisfied customers
My son tried to buy his first house in Nov 2008 for $125,000.
My son tried to buy his first house in Nov 2008 for $125,000. He was rejected at the closing because he had not worked long enough in his new job. His Mother had to sign the documents. In Dec 2009 he … read more
Lev
Lev
44,627 satisfied customers
I purchased a home in 2008 and took advantage of the 1st time
I purchased a home in 2008 and took advantage of the 1st time home buyer tax credit of $7500. I remodeled my kitchen with most of the monies. I was downsized in October of 2009. Although I am not behi… read more
Merlo
Merlo
Tax Consultant
560 satisfied customers
We took the 1st time homebuyers credit in 08 ....we are in
We took the 1st time homebuyers credit in 08 ....we are in the process of selling the home ....we are taking a loss on the home ,we owe more on the home then it is worth ...do we need to repay the $75… read more
Lev
Lev
44,627 satisfied customers
2 years ago we received a home via inheritance. The home sold
2 years ago we received a home via inheritance. The home sold at what was considered a loss compared to the appraisal at the time of my mother-in-law's death. All estate taxes were paid at the time of… read more
Merlo
Merlo
Tax Consultant
560 satisfied customers
I recieved the $7500 frst time homeowners credit applied to
I recieved the $7500 frst time homeowners credit applied to my 2008 tax return. This was the first of the homeowners stimulus plan where the 7500 dollars was to be repaid $500 per year on future tax r… read more
Merlo
Merlo
Tax Consultant
560 satisfied customers
I RECEIVED THE $7500.00 1ST TIME HOME BUYERS TAX CREDIT ON
I RECEIVED THE $7500.00 1ST TIME HOME BUYERS TAX CREDIT ON 2008'S RETURN AND HAVE TO BEGIN PAYING IT BACK IN 2 YEARS BUT IF I PURCHASED THE HOME A YEAR LATER I WOULD NOT HAVE TO PAY BACK ANYTHING. HOW… read more
Merlo
Merlo
Tax Consultant
560 satisfied customers
Mother-in-law put her condo in a trust. Wife is executor/successor.
Mother-in-law put her condo in a trust. Wife is executor/successor. M-I-L put condo on market Sep 2008. Died Oct 2008. Condo sold Oct 2009 for less than market value. What are tax liabilities for wife… read more
Merlo
Merlo
Tax Consultant
560 satisfied customers
my wife, son, and i bought a home may 08. the gentleman that
my wife, son, and i bought a home may '08. the gentleman that brokered the loan told me that if my son does not use the home purchase for any deductions on his tax returns for '08, he would be conside… read more
Dave Z
Dave Z
Self-Employed
Bachelor
418 satisfied customers
Dad is in assisted living, home is worth about 350,000, lived
Dad is in assisted living, home is worth about 350,000, lived in it for over 50 years. Mother died 3 years ago, and the house is part of a trust. Outside of capital gains, and improvement deductions, … read more
Merlo
Merlo
Tax Consultant
560 satisfied customers
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