Property Q&A in Pittsburgh>Question Details

 David, Real Estate Pro in Bethel Park, PA

What do I do since I rented my house without knowing everything about the 2008 tax credit?

Asked by David, Bethel Park, PA Tue Mar 29, 2011

I rented out my house without knowing if I did that I would have to pay the remaining 7k when I do my taxes next year. I don't have 7k!! I can't even get my house sold without doing a short sale.

Help the community by answering this question:


Hi David,

I understand your conserns, 7k out of no where is a hefty chunck. Contacting an accountant like metioned below is a good start. Make sure you explain your situation fully to the accountant as there are certain loop holes to that clause he can explore. If nothing else he can set you on a payment plan to pay off over time. Best case he can get that 7k penalty removed. If you need help with an accountant with reasonable fees and knowledgable let me know. I can give you atleast two in your area. Believe it or not your not the first to run into this clause.

Hope this helps
0 votes Thank Flag Link Wed Mar 30, 2011
Best advice would be to contact an Accountant or a Good Tax Lawyer. Good Luck!
0 votes Thank Flag Link Wed Mar 30, 2011
Be careful who get advice from. Contact a good tax attorney.
0 votes Thank Flag Link Wed Mar 30, 2011
How does anyone know you rented the house out?
Reply to me via email if you can.
0 votes Thank Flag Link Tue Mar 29, 2011
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