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Fed. Housing Tax Credit

Started by agr347, January 20, 2009, 01:37:36 pm

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agr347

January 20, 2009, 01:37:36 pm
This is an interest free loan of 10% of new home price up to 7500 given to first time home owners from April 9th, 2008 to the end of Jue of this year.  Just curious if anyone here is in this category.  I am currently buying my first home and just wondered if anyone had any experience with this and exactly how to go about claiming it.  Thanks in advance.
"Just remember, its not a lie if you believe it." -George Costanza

Road_Hog

January 20, 2009, 01:45:02 pm #1
Quote from: agr347 on January 20, 2009, 01:37:36 pm
This is an interest free loan of 10% of new home price up to 7500 given to first time home owners from April 9th, 2008 to the end of Jue of this year.  Just curious if anyone here is in this category.  I am currently buying my first home and just wondered if anyone had any experience with this and exactly how to go about claiming it.  Thanks in advance.

I built my home prior to that so it doesn't apply to me but there is a line (I want to say 71 from memory) on your 1040 to take the credit.  I think there is a form to attach to go with it.
 

agr347

January 20, 2009, 01:52:31 pm #2
Quote from: Road_Hog on January 20, 2009, 01:45:02 pm
I built my home prior to that so it doesn't apply to me but there is a line (I want to say 71 from memory) on your 1040 to take the credit.  I think there is a form to attach to go with it.

ok I appreciate it.  It said that it could just be claimed on my tax return, but I wasn't sure where.  I am sure an accountant would have no problem with it, I was just curious.
"Just remember, its not a lie if you believe it." -George Costanza
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