Tag Archives: First-time

What is Half of the Homebuyers Credit?

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, […]

Missed the Deadline?

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 […]

Expiring Homeowners Credit

Today TaxMama hears from Penny in Kansas who is confused. “Have you heard anything about the new home tax credit having to be used by Monday, June 29, 2009? A couple of realtors have told clients that the money’s running out. If we are going to get the credit, they must get it by Monday.”

How to Waste First Time Homebuyers Credit

Today TaxMama hears from Kevin in Ohio who wants proof. “I want to buy my first home before December 1, 2009, but not move into it until April 2010. Do I actually have to be living in it by November 30, 2009 to qualify for the First-Time Homebuyers Credit? Is there some written proof? I […]