Comments on: $8000.00 Tax Deduction for First Time Home Buyers

By: Missy Caulk

Missy Caulk — Mon, 08 Mar 2010 14:13:18 +0000

Lecel, they are backed up in Washington. Some people are waiting 3 months.

By: lecel

lecel — Mon, 08 Mar 2010 06:42:20 +0000

hi, just want to check how long to recieve the tax refund of 8,000.00 for the first time home buyer,because we both a house last october 2009 and we mail the form for the 8k like 2 weeks ago.
It will be a big help if you can let me know the answer.

Thanks
MAss. LM

By: Missy Caulk

Missy Caulk — Mon, 22 Feb 2010 23:04:21 +0000

Yes it will be a credit on your taxes, and if you don’t owe anything then you will receive a check.

By: Shellane

Shellane — Mon, 22 Feb 2010 13:52:25 +0000

So if I do not owe any taxes,I will receive an $8000 check?

By: Missy Caulk

Missy Caulk — Thu, 11 Feb 2010 15:12:50 +0000

Was the mobile home on your own land or rented land in a mobile home community?

By: brandon

brandon — Wed, 10 Feb 2010 03:24:06 +0000

Me and my wife moved into a mobile home in august of 2006. My mother-n-law bought the home on a credit card. There was not a title for the home for that perticuler year model. The bill of sale had my wifes and mother-n-laws name on it. we paid my mother-n-law payments on it then she took her name off of the bill of sale and put just my wifes name. We are closing on a home in march will we get the tax credit

By: Missy Caulk

Missy Caulk — Wed, 10 Feb 2010 00:18:16 +0000

Reed, I don’t think so the rule is “arms length” transaction. You are married so you are treated as a married couple.
However, feel free to contact the IRS as they are quite knowledgeable.

By: Reed

Reed — Wed, 10 Feb 2010 00:06:48 +0000

my wife and i built a house on land of my fathers and instead of waiting on a deed we ended up just purchasing the land and home we built from him to ease some paperwork. we paid fair market value for the house through a mortgage company. Is myself or my wife eligible for THe Tax credit being that she is not a blood relative? Thanks

By: Missy Caulk

Missy Caulk — Tue, 09 Feb 2010 13:52:57 +0000

Don’t think so as you were married and by being on the deed she was owner. But, she should qualify for the 6500.00 for move up buyers based on her income.

By: Greg

Greg — Mon, 08 Feb 2010 21:06:00 +0000

I bought a house in 2006 and paid cash, my wife was on the deed. We seperated in August of 2008. She has since purchased a home. Being she was on the deed of the house that I bought is she still elligible for the first home purchase deduction? This is the first house she has purchased and she has been removed from my deed.