Federal Tax Credit Home Buyer
August 19th, 2010
Question: Will I be entitled to the Federal Housing first time home buyer tax credit?
I know if you bought a house between June of 08 through June of 09 and are a first time home buyer you can claim the $7500 tax credit when you are filing your income tax. I am a first time home buyer, but my mom was a co-applicant and is not a first time buyer. I am the only one living in the house and I alone pay the mortgage payment and the property taxes. I will be filing head of household and I am not married. My mom can’t claim the credit and files her own taxes. Will I be able to claim this credit or at least half?
Answer: I think you can claim the whole $7,500 yourself. Check out irs.gov or specifically
http://www.irs.gov/newsroom/article/0,,id=187935,00.html
Then click the second bullit point
IRS Notice 2009-12 has instructions for non-married persons who co-own a house and want to take the credit.
That opens a seven page PDF form. Look at example #4 on page 5 and it addresses your exact situation and says you get the whole $7,500 assuming you qualified in all other aspects.
Woohoo!
For Capitol Hill freshmen, sponsoring legislation can boost political fortunes
When a popular federal tax credit for first-time home buyers was set to expire in June, the House and Senate sprang into action, approving a bill to extend the credit for three months to people with home sales already under contract. One of the lead sponsors of the measure — which passed 409 to … Capitol Hill Washington D.C. – Capitol Hill – United States – Washington DC – Neighborhoods
| | Home sales last year were better than in 2008: many believe the federal first-time home buyers’ tax credit was the key.(Residential Real Estate … An article from: Mississippi Business Journal $9.95 This digital document is an article from Mississippi Business Journal, published by Dolan Media Company on January 25, 2010. The length of the article is 1176 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Home sales last year wer… |
| | Buyers scramble for tax credit.(Real Estate and Housing)(Lane County home sales are brisk on the last day of a federal incentive program): An article from: The Register-Guard (Eugene, OR) $9.95 This digital document is an article from The Register-Guard (Eugene, OR), published by The Register Guard on May 1, 2010. The length of the article is 863 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Buyers scramble for tax cred… |
| | Home sales still falling.(Business)(Despite the federal tax credit to stimulate the housing market, Lane County buyers remain hesitant): An article from: The Register-Guard (Eugene, OR) $9.95 This digital document is an article from The Register-Guard (Eugene, OR), published by The Register Guard on September 18, 2009. The length of the article is 637 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Home sales still fall… |
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