me and my wife bought our first home six years ago, and we received the first time buyers credit, we are trying to sell now

Asked by jamesmadridgal, San Bruno, CA Thu Jun 12, 2014

what happens to the credit now that we are trying to sell?

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3
Ryan Rudnick, Agent, San Francisco, CA
Fri Jun 13, 2014
Hi James,

It sounds like you bought your home in 2008 - the credit in 2009 and 2010 wasn't exactly $7,500. If that's the case, you'll likely have to repay the $7,500 upon sale of the house. There are a few exceptions to that rule, however.

I'd be happy to discuss with you further if you'd like. Feel free to contact me any time.

-Ryan
1 vote
Sam Shueh, , San Jose, CA
Fri Jun 13, 2014
I believe you are referring to the $7500 credit. This is the official ans from IRS:
http://www.irs.gov/uac/First-Time-Homebuyer-Credit-Questions…

good luck,

Sam Shueh
Keller Wms Cupertino Realty
1 vote
Randall Ortiz, Agent, Sacramento, CA
Thu Jun 12, 2014
If you would like to contact me I would like to get a little more information so that I can answer your question better. You can get a hold of me at 916-529-3707.
0 votes
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