First time home buyers tax credit

98Camarod · 03-10-2010, 11:16 PM

I'm supposed to be closing on our new home in Kings bay, GA on the 31st of March. I'm curious to know if anyone has utilized the tax credit and what you actually got back for your return. It's supposed to be an 8,000 dollar tax credit

coonrod · 03-10-2010, 11:29 PM

i got back 8k as long as you keep your house for 3 years you dont have to pay it back its not credit towards a write off its 8k

MonteC · 03-11-2010, 07:38 AM

You get eight thousand dollars back. We closed last year on our house in feburary and were able to get that 8k back the same year at tax time. Its a nice chunk of change.

LXtasy · 03-11-2010, 08:23 AM

yes , i got a check for 8ooo plus interest. took 6 weeks to get after we filed. we did it last year after we closed

KRYPTONITE · 03-11-2010, 08:30 AM

yea i got $8000 when i got my house and it also took about 6weeks to come

1iron · 03-11-2010, 08:49 AM

More of our government throwing our money away. When will this shit end. Term limits now!

KRYPTONITE · 03-11-2010, 08:52 AM

Quote:

Originally Posted by 1iron

More of our government throwing our money away. When will this shit end. Term limits now!

you must have not got your check

AverageJoe · 03-11-2010, 09:02 AM

Quote:

Originally Posted by MonteC

You get eight thousand dollars back. We closed last year on our house in feburary and were able to get that 8k back the same year at tax time. Its a nice chunk of change.

Lots of flashlights.

1iron · 03-11-2010, 09:12 AM

Quote:

Originally Posted by 72 SCAMP

you must have not got your check

You are correct. No check for me.

04ctd · 03-11-2010, 10:54 AM

Quote:

Originally Posted by 98Camarod

our new home in Kings bay, GA on

we loved KBay, our youngest daughter grew up there.

where did you move into?

sugar mill had a hateful HOA when we were there.

we lived up Elliott's Bluff by boat landing.

paid 110k for a house, sold it for 220k

spent some money on hot women, fast cars, and cool bikes.

musta wasted the rest.....

98Camarod · 03-11-2010, 11:13 AM

Quote:

Originally Posted by 04ctd

we loved KBay, our youngest daughter grew up there.

where did you move into?

sugar mill had a hateful HOA when we were there.

we lived up Elliott's Bluff by boat landing.

paid 110k for a house, sold it for 220k

spent some money on hot women, fast cars, and cool bikes.

musta wasted the rest.....

We picked a house off of Shadowlawn Drive; Natchez Ct. We picked it up for 115,000. It's our first house and it's pretty nice.

Now I'm stoked, 8k will be nice. I can put that towards my truck and have once less payment

98Camarod · 03-11-2010, 11:14 AM

One question though. Someone said that you can amend your 2009 taxes for the purchase of the house in 2010 and get the 8k back this year. It doesn't seem right to me, but has anyone done this?

Blubird · 03-11-2010, 12:27 PM

You are all welcome from those of us who actually pay taxes.

MonteC · 03-11-2010, 01:40 PM

Quote:

Originally Posted by Blubird

You are all welcome from those of us who actually pay taxes.

I pay my taxes. Probably more than most, being self employed.

98Camarod · 03-11-2010, 01:42 PM

Quote:

Originally Posted by Blubird

You are all welcome from those of us who actually pay taxes.

I pay my taxes too. We were going to buy a house regardless, its just a bonus now.

bwelch · 03-11-2010, 01:51 PM

I think everybody on here has payed way more than 8k in taxes. If I could afford to buy a house right now I would.

Magoo · 03-11-2010, 04:24 PM

Quote:

Originally Posted by 98Camarod

One question though. Someone said that you can amend your 2009 taxes for the purchase of the house in 2010 and get the 8k back this year. It doesn't seem right to me, but has anyone done this?

Yes you can ammend your taxes. I ammend my 08 tax return last year and got the $8k plus interest in a couple of weeks.

1BAD4DR · 03-11-2010, 04:59 PM

Cant wait for mine, im closing in April

Ballaholic29414 · 03-11-2010, 05:09 PM

I closed on a house in September 09' and I still dont have the 8k yet.....

LXtasy · 03-11-2010, 05:50 PM

Quote:

Originally Posted by Ballaholic29414

I closed on a house in September 09' and I still dont have the 8k yet.....

Did you file it or just excepting the government to go "OH hey, these people bought a house?"

I amended my 08 taxes with my accountant and got it back last year. Same thing Magoo did. Was great. It paid off all our little debt.

I think it was actually a GOOD IDEA from the government. Housing market was down and this helped people like me who were renting to actually buy a place at a low interest rate and a less inflated housing market pricing. I had been looking for over 2 years. And this really helped because I knew now that I could use it to pay off debt which also helped put back into my home and give me a cushion.

Plus many people are proud of what they have even if it is just a shack that needs 50k worth of work to even make it livable and the home wont be worth it.

Sorry if you think it was a bad idea. But it worked for me and actually helped me. But than again I didn't get a home I knew I couldn't afford. FIXED interest for me.

03-10-2010, 11:16 PM	#1
98Camarod Senior Member Join Date: Mar 2009 Location: Summerville, SC Posts: 1,525	First time home buyers tax credit I'm supposed to be closing on our new home in Kings bay, GA on the 31st of March. I'm curious to know if anyone has utilized the tax credit and what you actually got back for your return. It's supposed to be an 8,000 dollar tax credit

03-10-2010, 11:29 PM	#2
coonrod Senior Member Join Date: Feb 2008 Location: north chuck Posts: 136	i got back 8k as long as you keep your house for 3 years you dont have to pay it back its not credit towards a write off its 8k __________________ if you can't fix it with a hammer then you have an electrical problem

03-11-2010, 04:59 PM	#18
1BAD4DR Senior Member Join Date: Feb 2007 Location: Goose Creek, SC Posts: 1,364	Cant wait for mine, im closing in April __________________ I wish dupree would hurry up...

03-11-2010, 07:38 AM	#3
MonteC Senior Member Join Date: Oct 2009 Location: Summerville Posts: 4,431	You get eight thousand dollars back. We closed last year on our house in feburary and were able to get that 8k back the same year at tax time. Its a nice chunk of change.

03-11-2010, 08:23 AM	#4
LXtasy Senior Member Join Date: Dec 2006 Location: Summerville, SC Posts: 9,564	yes , i got a check for 8ooo plus interest. took 6 weeks to get after we filed. we did it last year after we closed

03-11-2010, 08:30 AM	#5
KRYPTONITE Senior Member Join Date: Apr 2008 Posts: 3,484	yea i got $8000 when i got my house and it also took about 6weeks to come

03-11-2010, 08:49 AM	#6
1iron Senior Member Join Date: May 2007 Posts: 2,014	More of our government throwing our money away. When will this shit end. Term limits now!

03-11-2010, 11:14 AM	#12
98Camarod Senior Member Join Date: Mar 2009 Location: Summerville, SC Posts: 1,525	One question though. Someone said that you can amend your 2009 taxes for the purchase of the house in 2010 and get the 8k back this year. It doesn't seem right to me, but has anyone done this?

03-11-2010, 12:27 PM	#13
Blubird Member Join Date: Nov 2009 Posts: 29	You are all welcome from those of us who actually pay taxes.

03-11-2010, 01:51 PM	#16
bwelch Senior Member Join Date: Aug 2009 Posts: 3,774	I think everybody on here has payed way more than 8k in taxes. If I could afford to buy a house right now I would.

03-11-2010, 05:09 PM	#19
Ballaholic29414 Senior Member Join Date: Feb 2009 Location: Charleston, SC Posts: 395	I closed on a house in September 09' and I still dont have the 8k yet.....