Do you have to pay back the $8000 first time home buyer tax credit?
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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
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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.
aroko56 at Yahoo! Answers Visit the source
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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