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Do I Have To Pay Back My 7500 Tax Credit

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  1.  
    $7500 tax credit
    Heather,Did you buy the home already? If so you will not have to start ... is that two years later you have to start paying back the credit over the next 15 years. If you sell the home ... Read more
    Answered Mon Jan 12 2009, 02:11 by Ralph Windschuh, Home Buying in Texas
  2.  
    $7500 Tax Credit
    The seller can assist you with closing costs! Talk to your agent or the mortgag ... the $7500 tax credit. It is just as it says...a tax credit. That means you would have to purchase your ... Read more
    Answered Sat Sep 20 2008, 06:31 by Carol Murray Cei, Home Buying in Philadelphia, PA
  3.  
    Is the $7500 dollar tax credit going to have to be paid back?
    Hi Brittaney - My advice is to speak your tax person on this, they will know bes ... received $7800.00 instead of $7500.00, but I do think you should check with your accountant. I've posted ... Read more
    Answered Thu Feb 19 2009, 10:00 by Kelly Cahill, Home Buying in 29745
  4.  
    Question regarding the $7500/$8000 Tax Credit?
    Unfortunately, yes. You are going to have to pay back the money over time. I think a lot of ... Read more
    Answered Tue Mar 17 2009, 14:05 by Greg Fagioli, Home Buying in 33611
  5.  
    Do I have to pay back the $7,500 tax credit if I lose money on my house?
    Hi RachelThat is a great question. I am attaching some information for ... was not addressed, you do not have to pay 2008 credit back if your loss was greater than the credit.Your basis ... Read more
    Answered Fri Oct 2 2009, 08:37 by Mnboy, Home Selling in Edina
  6.  
    What are the chances that the 2008 7500 dollar tax credit for first time home buyers will go to the ...
    4 to 6 or less but maybe higher John Bennett
    Kayak - if I understand you ... 's just my opinion. Have you heard anything to indicate that they would even think about doing that ... Read more
    Answered Tue Nov 24 2009, 03:54 by Patricia Aponte, Home Buying in 33611
  7.  
    WILL PAY 7500 TO COSIGNER?
    Kristyr: I hope you will re-think this offer.There is absolutely no ... only loan? Can you add depreciation or depletion back into your income on your tax returns? Can you do ... Read more
    Answered Thu Sep 17 2009, 12:40 by Bill Polack, Financing in California
  8.  
    Do you still have to pay back the 2008 $7500 "tax credit" if you foreclose? Technically, that ...
    I've never seen any provisions that would "forgive" the tax credit in the event of foreclosure. ... Read more
    Answered Tue Sep 29 2009, 16:45 by Donald, Foreclosure in Phoenix
  9.  
    If I have my home foreclosed on, what happens to the $7500 first time homebuyers credit I got?
    Yes! You have to give that back. Even if you are not foreclosing, you have to pa ... . If there are any Real Estate questions you may have, I will do my best to answer them, or find the answer for you ... Read more
    Answered Thu Jul 30 2009, 11:25 by Mark Dowding, Foreclosure in 92503
  10.  
    tax credit?
    The tax credit is just that, a credit for what is owed on your taxes which is ... if you can get that included in the deal.The revised $8,000 tax credit (was $7,500) is a great ... Read more
    Answered Thu Nov 5 2009, 17:17 by Vicky Chrisner, Home Buying in 19114
  11.  
    first Home Owners $7500 grant
    Good question!I have posted the information on my website, so please tak ... .http://www.linnin.info Brian Butterfield
    Looking,I think what you are referring to is the $7,500 federal tax credit ... Read more
    Answered Thu Oct 23 2008, 13:08 by Stew Keene, Home Buying in 48067
  12.  
    You can use your $8,000 tax credit now and amend your 2008 tax return!!
    We did our taxes and was only able to get 7,500 for first time homebuyers and ... should not have to pay this back with the new tax credits. Homeowner427 ... Read more
    Blogged Wed Aug 12 2009, 09:57 by , Home Buying
  13.  
    Is it true that home buyers can obtain $15,000 grant from Federal Goverment rather than $7,500?
    Not yet. That is a provision that has been added to the current stimulus bill ... is for first time home buyers only and is a credit not a tax break. Like a grant , it requires to be paid back ... Read more
    Answered Thu Apr 9 2009, 11:37 by Jeffrey David Halpern, Home Buying in Piscataway
  14.  
    What's the deal with the first time home buyer tax credit?
    The House passed a bill. It may look very different after it gets out of the ... tax credit and has nothing to do with your mortgage. Last year there was a program with $7,500 which ... Read more
    Answered Sun Oct 4 2009, 07:29 by Betina Foreman, Home Buying in 78701
  15.  
    7500 First time buyers tax credit. Do you only get 3750 if you are single?
    That is correct, if you file as a single person you are eligible for half. ... 2009, you may take advantage of the tax credit. You actual tax credit can be as much as $7,500 against ... Read more
    Answered Wed Sep 9 2009, 20:29 by Patrick Jackson, Financing in Plano
  16.  
    8000 Tax Credit
    P.R., you may file an amended 2008 tax return on Form 1040X. (Form 1040X is ... of the tax credit will be paid to you. You do not have to pay it back. I hope this answers your question ... Read more
    Answered Mon Jul 27 2009, 07:17 by Lana Robbins GRI, Home Buying in Tampa
  17.  
    Is the 7,500 tax credit just for US Citizens or for all tax payers?
    I work in the tax arena. If you bought your home in 2008, you can take this credit but it is a loan whic ... Read more
    Answered Wed Mar 4 2009, 12:24 by Gabi, Home Buying in Manassas
  18.  
    I bought a home in October in hopes of getting the original tax credit of 7500. With the new bill passing, ...
    My feelings are that if this 2009 stimulus package does not work, then the 2010 ... credit. Along with the $500 delta, you, unfortunately, are required to pay your tax credit back over 17 ... Read more
    Answered Sat Jun 6 2009, 14:44 by Arn Cenedella, Financing in San Jose
  19.  
    i am confused about this 7500 tax credit biz.some websites say one thing and others say something else.i ...
    Congress is actively considering an expanded home buyer tax credit, and the ... that "credit"! Seems that many people are misinformed...YOU DON'T PAY BACK EVERY DIME!!! My wife and I were ... Read more
    Answered Mon Nov 9 2009, 07:03 by Mike Luzzo, Home Buying in Orlando
  20.  
    Am i still able to receive the $8000 tax credit instead?
    Yes, Amanda, you should qualify for the increased amount of $8,000. But you ... ,You need to amend your 2008 Tax Return to get the difference of $500. In doing so you wouldn't have to pay ... Read more
    Answered Tue Mar 10 2009, 05:24 by Charles Ngo, Home Buying in Queen Creek
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