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Last years first time home buyers

Have you got your $8000 tax credit back yet?
How long did it take for you to get yours?

 
rochellecole

Asked by rochellecole at 9:01 PM on Mar. 8, 2010 in Money & Work

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This question is closed.
Answers (7)
  • Anonymous

    Answer by Anonymous at 9:26 PM on Mar. 8, 2010

  • Doesn't that go on your tax return? I'd think that seeing it or not would depend on how much you owe in taxes. I'm interested in hearing what moms have to say!
    gdiamante

    Answer by gdiamante at 9:03 PM on Mar. 8, 2010

  • We filled our tax returns in February threw H&R Block we got our Federal and State taxes back right away but the home credit taxes we had to send the paper work thru the mail.
    rochellecole

    Answer by rochellecole at 9:11 PM on Mar. 8, 2010

  • i had to file an amendment on my taxes from last year to get mine because of when we bought our house. And its only 10% of what you paid for the house up to 7500....from what my accountant told me. Also, you have to pay it back. They take out so much out of your taxes for like 15 years. Luckily we didn't pay a whole lot for our house so extra credit will come in handy but i wont be paying an arm and a leg for the next 15 years. I mailed in my amendment a few weeks ago and haven't gotten anything back yet. I figure it will take at least a month, but who knows. I am not sure who you would ask to find out. If you filed it with this years taxes I would assume that it would come with the rest of your tax return....I could be wrong though.
    aly38914290

    Answer by aly38914290 at 9:14 PM on Mar. 8, 2010

  • Wait, so you have to pay it back?
    Anonymous

    Answer by Anonymous at 9:19 PM on Mar. 8, 2010

  • I was never told or even heard you had to pay it back??
    rochellecole

    Answer by rochellecole at 9:27 PM on Mar. 8, 2010

  • According to my accountant, yes. if you got the full $7500. it will be $500 every year for 15 years....I dont know if you could pay it back faster than that.....but from what she told me it would be added to what you owe in taxes each year.

    i didnt research it a bunch or anything, my accountant use to work with my mom and i use to babysit for her oldest boys....so I trust her.

    We only got $3000. so we will only pay $200 a year. I am not worried because I always get more than that back every year. And we could use the extra cash right now.
    aly38914290

    Answer by aly38914290 at 9:28 PM on Mar. 8, 2010

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