8000 Tax Credit Home Buyer
July 20th, 2010
Question: Do you have to pay back the $8000 first time home buyer tax credit?
Do you have to pay back the $8000 first time home buyer tax credit? i know you have to stay in the house for 3 years, but i got different answers about if i have to pay it back in 15 years on never have to pay back. i just need to know if its a yes or no. Thanks guys
Answer: This is a USA question.
Which year did you buy the house?
For 2008, the maximum credit was $7500 and it was to be paid back over 15 years, starting in 2010.
For 2009, the maximum credit is $8000 and if you lived in the house 36 months, wasn’t to be paid back.
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