$8000 first time home buyer tax credit?

Do you have to pay back the $8000 first time home buyer tax credit?

  • Do you have to pay back the $8000 first time home buyer tax credit? i know you have to stay in the house for 3 years, but i got different answers about if i have to pay it back in 15 years on never have to pay back. i just need to know if its a yes or no. Thanks guys

  • Answer:

    This is a USA question. Which year did you buy the house? For 2008, the maximum credit was $7500 and it was to be paid back over 15 years, starting in 2010. For 2009, the maximum credit is $8000 and if you lived in the house 36 months, wasn't to be paid back.

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Other answers

No. If you bought in 2008, you have to pay it back andf the max credit is $7500.

Judy

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