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tac credit still available in 2009 for new homes bought in 2008

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Icon Mini Profile mrkwisgrumpy





Joined: 22 Oct 2009

Posts: 2

1.50 Dollars($)
Post Posted: Thu Oct 22, 2009 9:18 pm    Post subject: tac credit still available in 2009 for new homes bought in 2
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I bought a new house in june of 2008 and was unaware at tax time that I qualified for this tax credit. Am I still able to get this credit when I file in my 2009 taxes
Icon Mini Profile jenkin7
jenkin7




Joined: 04 Jun 2007

Posts: 4537
Location: Hawaii
728.43 Dollars($)
Post Posted: Thu Oct 22, 2009 11:56 pm    Post subject:
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Hi mrkwis,

You will not be able to get $8000 tax credit for the year 2009. This tax credit applies to home purchases made between Jan 1, 2009 to Dec 1, 2009. However, you can claim the tax credit of $7500 for the year 2008, if you purchased the home after April 8, 2008. However, the 2008 tax credit is a bit different than the 2009 tax credit as it is required to be repaid in 15-year period. But you should talk with your tax advisor before filing your taxes.
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