Zillow Advice: Home Buying - I purchased my first home in September 2008. Do I qualify for any sort of "tax credit?"

Yes you can claim the credit ...

Mon, 16 Feb 2009 22:43:00 GMT

Yes you can claim the credit on your 2008 tax return- the credit must be taken in the year of your purchase. The First-Time Homebuyer Credit can be claimed on Form 5405- you will need the purchase date and also the price paid.

Remember also to file for ...

Mon, 16 Feb 2009 14:44:00 GMT

Remember also to file for Homestead Exemption! Info below:

Atlanta Homestead Exemption 2009

For more information on the ...

Sat, 14 Feb 2009 17:13:00 GMT

For more information on the $7500 tax credit (with repayment provisions), see this website:
http://www.federalhousingtaxcredit.com/faq.php

And there is a new bill for an $8000 tax credit (without repayment provisions) - check this site for information:
http://www.federalhousingtaxcredit.com/

The tax credit mentioned ...

Sat, 14 Feb 2009 17:13:00 GMT

The tax credit mentioned by the other poster is a long term interest free loan that has be be paid back over 15 years (or when you sell the house). It also has income restrictions.

"The Housing and Economic ...

Sat, 14 Feb 2009 16:55:00 GMT

"The Housing and Economic Recovery Act of 2008 authorizes a $7,500 tax credit for qualified first-time home buyers purchasing homes on or after April 9, 2008 and before July 1, 2009."

Talk to your tax professional to see how it impacts your particular situation. Also, note this is a credit the first year, but you'll need to pay back on the credit over time