Homebuyer Tax Credit

Homebuyer Credit Repayment

May 15, 2012
Thumbnail image for Homebuyer Credit Repayment

Podcast: Play in new window | Download

Today TaxMama® hears from Kelly in the TaxQuips Forum who cares about her friend. “A friend’s home will soon be going into foreclosure. He’s owned the home for 2.5 years and we’re trying to figure out if he’ll have to repay the $8,000 tax credit he received as a first time homebuyer. I’ve read that [...]

Read the full article →

Moved out Too Soon

February 1, 2012

Podcast: Play in new window | Download

Today TaxMama® hears from Elisa in the TaxQuips Forum with this question. “I purchased a home in 2009 getting a first-time homebuyers credit. I lived in it for 1 year.  I moved to be closer to work and am renting an apartment. I have been renting my house out since July 2010.  How will me [...]

Read the full article →

Homebuyer Credit Nightmare

October 4, 2011

Podcast: Play in new window | Download

  Today TaxMama hears from Jewelz in the Tax Quips Forum, in distress. “I purchased my primary residence in October of 2009. My roommate moved out in April 2011. That led me to turn home into a rental due to not being able to make mortgage payments. I am barely breaking even, so there is [...]

Read the full article →

Land and Lot

September 14, 2011

Podcast: Play in new window | Download

Today TaxMama hears from Mark in the TaxQuips Forum, who got denied – again. Let me summarize – Mark bought land in March of 2009. Bought a manufactured home in April of 2010 – and had the property graded, receiving the occupancy permit by June of 2010 – before the deadline for the First Time [...]

Read the full article →

What is Half of the Homebuyers Credit?

June 16, 2011

Podcast: Play in new window | Download

Today TaxMama has been fighting the good fight for the rights of homeowners who filed for the homebuyers credit.  The latest issue? When a married person files a separate tax return, how much is half the homebuyer’s credit? Is it based on half the purchase price of the house? Or half of $8,000? (or $6,500, [...]

Read the full article →

Missed the Deadline?

March 9, 2011

Podcast: Play in new window | Download

Today TaxMama hears from Jesus in the TaxQuips Forum, who is on the cusp. “I made my offer for my home on 04/29/10 but I closed escrow on 06/14/10. My HUD-1 statement says STAEMENT DATE : JUNE 14, 2010, basically the day I closed escrow. Do I still qualify? The binding contract is confusing. What [...]

Read the full article →

Residential Energy Credits

February 8, 2011

Podcast: Play in new window | Download

Today TaxMama hears from Seth in the TaxQuips Forum, who wants to get credit for his work. “I got an $8,000 tax credit on my 2009 taxes for being a first time home buyer.  I spent quite a bit of money insulating my house at the end of 2010.  My Dad told me that the [...]

Read the full article →

Two Mortgages

January 27, 2011

Podcast: Play in new window | Download

Today TaxMama hears from Seth in the TaxQuips Forum, with this question. “In order to qualify for my mortgage in 2009, I needed to put down 20% of the purchase price of my house.  I only had 5% to put down.  Therefore, I got another loan to cover the remaining 15% that I needed to [...]

Read the full article →

Homebuyer Credit Confusion

October 5, 2010

Podcast: Play in new window | Download

Today TaxMama  hears from Timothy in the TaxQuips Forum. He filed for his Homebuyers Credit over 4 and half months ago, hearing nothing. When he called in, he learned they may have a problem because his 2007 tax return showed a deduction for mortgage interest. But it wasn’t his home – it was his ex-wife’s. [...]

Read the full article →

TaxMama’s Tax Roundtable June 2010

June 24, 2010

    REPLAY today’s session – you can listen and SEE the session Today’s topics included: Introductions of some participants Testing of microphones ;~) Questions about the new PTIN Registration Brief overview of the new Testing issue for “Registered Tax Preparers”. NAEA’s survey about the Enrolled Agent title – and changes. Discussion of  IRA or 401(k) to [...]

Read the full article →

← Previous Entries