Comments on: First Time Home Buyer Credit – Your options if you buy after April 15

By: Michael

Michael — Mon, 12 Mar 2012 22:47:47 +0000

@ Stan: If you meet the requirements, yes. The original article above lists the requirements. You can amend your return until April 15, 2013.

By: stan

stan — Sun, 11 Mar 2012 19:22:02 +0000

We bought a home in CA. we started escrow in april 28 2009 and closed july 23 2009. Are we eligible for any kind of credit?

By: Michael

Michael — Wed, 12 Jan 2011 01:40:29 +0000

@Dustin: No, unless you were in the military.

By: Dustin

Dustin — Tue, 11 Jan 2011 02:39:34 +0000

If i did not sign the papers for my house until June 2010, do i get any kind of tax credit?

By: Michael

Michael — Thu, 29 Jul 2010 12:14:52 +0000

@Ian: This is very straightforward. If you sell your home because you like something else more within three years of purchasing the home for which you got the credit, you have to repay the credit you received when you file your 2010 tax return.

By: Ian Nichols

Ian Nichols — Wed, 28 Jul 2010 23:38:50 +0000

We bought our house in August of 2009, we received our $8,000 tax credit. Now the house we have always loved is for sale and we are thinking about buying it. It hasn\’t even been a year since we bought our first home, and I am not for sure if we will have to repay the 8,000 back because some websites say we might not have too, but they are not specific on the circumstances??

By: Michael

Michael — Tue, 11 May 2010 13:00:08 +0000

@Shanae: Bummer. I’d wait until you undoubtedly receive correspondence from the IRS. At that point, you can resubmit with your Form 5405. If you’re entitled to the credit, you’ll still get it – eventually.

By: shanae

shanae — Tue, 11 May 2010 00:28:17 +0000

i recently sent in my HUD 1 and 1040X, didnt figure out until today that i didnt attach form 5405. What can i do?

By: Michael

Michael — Mon, 03 May 2010 18:29:05 +0000

@Ken: Consider calling the CA DOR for help there – free.

By: Ken

Ken — Mon, 03 May 2010 18:03:33 +0000

My realtor postponed the close of escrow so that I would qualify–timewise–for both the federal and state tax credits. What I’ve been uncertain about was whether I am considered a “first time home buyer” as defined on the Federal and State tax credit forms. I thought all was lost this past weekend after learning from my older sister that she had transferred the title of my mother’s house to me and my two sisters, but with your help I think that it is worth my while to consult a real estate lawyer.