Don’t want to wait for your $8000 tax credit? No problem.

“I want my $8000 NOW!”

Great news on the $8,000 first-time home buyer tax credit! If you bought your first home this year — or are in the process of closing on or before November 30th, 2009 — you won’t have to wait until April 2010 to get your tax credit. You can file an amended 2008 return and claim your 2009 tax credit on your 2008 return. In other words, you can get paid much sooner than you thought.

Here is a summary of how to qualify for the credit:

• You must buy the home between 1/1/09 and 11/30/09
• The purchase must close by 11/30/09
• If you are building a house, you must be living in the house by 11/30/09
• The home must be a primary residence - the credit does not cover second homes, vacation homes, or investment properties
• Your adjusted gross income must be less than $75,000, or $150,000 for married filing jointly, to obtain any credit
• If you cease to use the residence as your primary anytime in the next 36 months, you will have to give back the credit

Get the complete overview of how to claim the $8,000 first-time home buyer tax credit, and get an overview of other things you need to consider before amending your 2008 tax return. And please remember to consult your tax accountant before actually filing an amended 2008 tax return.