Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

1st time homebuyers credit?

1st time homebuyers credit?

Old Jan 6th 2010, 4:09 pm
  #1  
Questy Questionson
Thread Starter
 
agentpeppermint's Avatar
 
Joined: Jul 2008
Location: Billings, Montana
Posts: 638
agentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond repute
Default 1st time homebuyers credit?

How long did it take any of you USC's to get yours back?

I filed for mine in September, sent in supporting documents beginning of November and it is still in review.
agentpeppermint is offline  
Old Jan 6th 2010, 4:11 pm
  #2  
Are we there yet?
 
Trixie_b's Avatar
 
Joined: Jul 2007
Location: 31 miles from Cool (California)
Posts: 2,467
Trixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond repute
Default Re: 1st time homebuyers credit?

we got it on our tax return last year. I'm a PR, husband is USC, we filed a married tax return jointly
Trixie_b is offline  
Old Jan 6th 2010, 4:16 pm
  #3  
Are we there yet?
 
Trixie_b's Avatar
 
Joined: Jul 2007
Location: 31 miles from Cool (California)
Posts: 2,467
Trixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond repute
Default Re: 1st time homebuyers credit?

Oh, just re-reading your question. It's a tax credit, so you could have reduced your tax payments last year and got the money from your salary, or wait till you file your tax return and it will be part of of your tax return payment.

(we got ours as a tax refund because my husband wasn't keen on reducing our tax payments via W4)
Trixie_b is offline  
Old Jan 6th 2010, 4:18 pm
  #4  
Questy Questionson
Thread Starter
 
agentpeppermint's Avatar
 
Joined: Jul 2008
Location: Billings, Montana
Posts: 638
agentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond reputeagentpeppermint has a reputation beyond repute
Default Re: 1st time homebuyers credit?

Originally Posted by Trixie_b View Post
we got it on our tax return last year. I'm a PR, husband is USC, we filed a married tax return jointly
I filed on an extended 2008 return for a home purchased in 2009. Since I was single in 2008 I had to claim single. My husband is listed on the deed to the house and is in AOS processing.

I included the loan documents, tax information, house insurance, vehicle title information, bills and etc to show we lived in the house.

They told me 30 days after Nov 19th, its now into 45 days when I called monday, they tacked on another 30 days.
agentpeppermint is offline  
Old Jan 6th 2010, 4:35 pm
  #5  
Are we there yet?
 
Trixie_b's Avatar
 
Joined: Jul 2007
Location: 31 miles from Cool (California)
Posts: 2,467
Trixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond repute
Default Re: 1st time homebuyers credit?

Originally Posted by agentpeppermint View Post
I filed on an extended 2008 return for a home purchased in 2009.
I'm sorry I can't help you with the time frame of that... sorry
Trixie_b is offline  
Old Jan 6th 2010, 4:42 pm
  #6  
Lost in BE Cyberspace
 
Michael's Avatar
 
Joined: Jun 2008
Location: San Francisco Bay Area
Posts: 10,678
Michael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond repute
Default Re: 1st time homebuyers credit?

People from other sites have indicated that it is taking about 4 months. The IRS is verifiying the the tax credit to make sure they are legimate. I think they are searching public records to try to make sure you are an eligible first time home buyer.
Michael is offline  
Old Jan 6th 2010, 4:47 pm
  #7  
LBR
Just Joined
 
Joined: Mar 2009
Location: Seattle, WA
Posts: 15
LBR is on a distinguished road
Default Re: 1st time homebuyers credit?

We sent an amended 2008 tax return in late August or early September and received the check in November or thereabouts.
LBR is offline  
Old Jan 6th 2010, 4:47 pm
  #8  
Concierge
 
Rete's Avatar
 
Joined: Apr 2001
Posts: 43,717
Rete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond repute
Default Re: 1st time homebuyers credit?

Originally Posted by agentpeppermint View Post
I filed on an extended 2008 return for a home purchased in 2009. Since I was single in 2008 I had to claim single. My husband is listed on the deed to the house and is in AOS processing.

I included the loan documents, tax information, house insurance, vehicle title information, bills and etc to show we lived in the house.

They told me 30 days after Nov 19th, its now into 45 days when I called monday, they tacked on another 30 days.

If you purchased the home in 2009, how did you claim it as a tax credit for your 2008 return????? Doesn't matter when you filed the 2008, you can't claim a credit for something in a year that it wasn't purchased in.
Rete is offline  
Old Jan 6th 2010, 4:54 pm
  #9  
Ginger Monkey
 
Gingerert's Avatar
 
Joined: Jun 2007
Location: Cheeseland, WI
Posts: 2,772
Gingerert has a reputation beyond reputeGingerert has a reputation beyond reputeGingerert has a reputation beyond reputeGingerert has a reputation beyond reputeGingerert has a reputation beyond reputeGingerert has a reputation beyond reputeGingerert has a reputation beyond reputeGingerert has a reputation beyond reputeGingerert has a reputation beyond reputeGingerert has a reputation beyond reputeGingerert has a reputation beyond repute
Default Re: 1st time homebuyers credit?

Originally Posted by Rete View Post
If you purchased the home in 2009, how did you claim it as a tax credit for your 2008 return????? Doesn't matter when you filed the 2008, you can't claim a credit for something in a year that it wasn't purchased in.
I know. It does seem odd, but that's exactly what we managed to do. We bought our house in March 09 and received a refund on our 08 tax return.

All this self-assessment tax malarky does my head in. This year for example we can claim for my son, but why should his birth have anything to do with taxes? Oh well. That's what accountants and an OH interested in numbers are for.
Gingerert is offline  
Old Jan 6th 2010, 4:56 pm
  #10  
LBR
Just Joined
 
Joined: Mar 2009
Location: Seattle, WA
Posts: 15
LBR is on a distinguished road
Default Re: 1st time homebuyers credit?

Originally Posted by Rete View Post
If you purchased the home in 2009, how did you claim it as a tax credit for your 2008 return????? Doesn't matter when you filed the 2008, you can't claim a credit for something in a year that it wasn't purchased in.
You can. We purchased our home in Aug 09 and were able to amend my USC husband's tax return for 08 to claim the money.
LBR is offline  
Old Jan 6th 2010, 4:59 pm
  #11  
BE Forum Addict
 
hobbes79's Avatar
 
Joined: Sep 2006
Location: Andover, MA
Posts: 1,703
hobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond repute
Default Re: 1st time homebuyers credit?

Originally Posted by Rete View Post
If you purchased the home in 2009, how did you claim it as a tax credit for your 2008 return????? Doesn't matter when you filed the 2008, you can't claim a credit for something in a year that it wasn't purchased in.
If I recall correctly, this was one strange exception where they allowed it. Basically to get the cash into peoples hands quickly in order to get the housing market moving.

Ours was simpler... bought in '08, claimed on '08 taxes. I didn't need to provide any proof. Just said when I bought the house and we got the credit on our refund check.
hobbes79 is offline  
Old Jan 6th 2010, 6:01 pm
  #12  
Concierge
 
Rete's Avatar
 
Joined: Apr 2001
Posts: 43,717
Rete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond repute
Default Re: 1st time homebuyers credit?

Wow that was nice
Rete is offline  
Old Jan 6th 2010, 6:13 pm
  #13  
Concierge
 
Rete's Avatar
 
Joined: Apr 2001
Posts: 43,717
Rete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond repute
Default Re: 1st time homebuyers credit?

Originally Posted by gingerert View Post
This year for example we can claim for my son, but why should his birth have anything to do with taxes? Oh well. That's what accountants and an OH interested in numbers are for.

Because the IRS tax law allows you to claim your new born as a dependent. Your tax is based not only on income but the number of dependents in the household. It costs money to raise a child.
Rete is offline  
Old Jan 6th 2010, 6:14 pm
  #14  
Are we there yet?
 
Trixie_b's Avatar
 
Joined: Jul 2007
Location: 31 miles from Cool (California)
Posts: 2,467
Trixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond reputeTrixie_b has a reputation beyond repute
Default Re: 1st time homebuyers credit?

Originally Posted by Rete View Post
Because the IRS tax law allows you to claim your new born as a dependent. Your tax is based not only on income but the number of dependents in the household. It costs money to raise a child.
Congratulations on your tax deduction...........
Trixie_b is offline  
Old Jan 6th 2010, 6:24 pm
  #15  
BE Forum Addict
 
hobbes79's Avatar
 
Joined: Sep 2006
Location: Andover, MA
Posts: 1,703
hobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond reputehobbes79 has a reputation beyond repute
Default Re: 1st time homebuyers credit?

Originally Posted by Rete View Post
Because the IRS tax law allows you to claim your new born as a dependent. Your tax is based not only on income but the number of dependents in the household. It costs money to raise a child.
One guy I work with was to have a scheduled c-section with his wife. Doctor suggested Jan-2nd.

He made them change it to Dec-30 to get the tax deduction
hobbes79 is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.