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Valery McAll…, Real Estate Pro in Chipley, FL

Do first time homebuyers who receive the $8000 tax credit have to pay this back?

Asked by Valery McAllister-Lawton, Chipley, FL Fri May 8, 2009

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Valery, If you want information about the Tax Credit then seeing what the IRS says may be the best way to go as they are the ones doing the enforcing and deciding who qualifies.

http://www.irs.gov/newsroom/article/0,,id=187935,00.html

http://www.irs.gov/pub/irs-pdf/f5405.pdf

http://www.irs.gov/newsroom/article/0,,id=204335,00.html

Dunes
0 votes Thank Flag Link Fri May 8, 2009
The new $8000 tax credit does not have to be repaid if the buyer stayin the the home at least three years. If the home is sold before three years of ownership the entire amount of the credit is recaptured on the sale.
0 votes Thank Flag Link Fri May 8, 2009
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