Category:First-time homebuyer credit

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First time home buyer credits (2008 and 2009)

This is a collection of the various articles and discussions to date (at the bottom of the page) about the first-time home buyer credits
in HR 3221 (2008), HR 1 (Feb 2009), and HR 3548 (Nov 2009) along with related links.

• For HR 3221, see Sec. 3011 (in Division C, Title I, Subtitle B) of the act - page 236 of the pdf: Legislative Text, and page 28 of the Technical Explanation

• For HR 1, see Sec. 1006 (in Division B, Title I) of the act - page 24 of the pdf: Legislative text

• For HR 3548, see Sec. 11 and 12 of the act: Legislative Text

• For all: Notice 2009-12 (Homebuyer Credit Allocation between Unmarried People)

Form and Instructions

Released by IRS 2/21/09: Form 5405
Link to where the Nov/Dec 2009 draft (reflecting changes from HR 3548) will be posted eventually: Draft 5405.
IRS Basic FAQ, 2009 FAQ, and more FAQ

Specific common questions

• Electing to take the credit for a 2009 purchase on the 2008 tax return - see New homebuyer "credit" - $8000 vs $7500; also see IRS guidance for various options for amending 2008 to take a 2009 credit: amend 08 (IRS)
• How marital status on the date of purchase affects eligibility - 'first time home buyer', particularly certain posts on Aug 5 and Aug 6, and First Time Home Buyer Tax Credit, particularly certain posts on Feb 17 and Feb 22, also IRS FAQ
• Allocating the credit between unmarried buyers - see Notice 2009-12 and also 1st time home buyer? (Couple not yet married), and several of the conversations within First Time Home Buyer Tax Credit
• Mobile home owners - See Publication 530 for definition of "main home" and also First-time Homebuyer's Tax Credit (owned mobile home), which itself links to First time home buyer credit for mobile home owners, and then one or two posts from Feb 21/22 in 'first time home buyer'
• NEW - How the $8k can be used toward the downpayment - See Washington Post article (5/30/09): FHA allows loans secured by tax credit
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Articles in category "First-time homebuyer credit"

There are 39 articles in this category.

A American Housing Rescue and Foreclosure Prevention Act of 2008 American Recovery and Reinvestment Act of 2009 D Discussion:$6500 homebuyer credit Discussion:$8,000 tax credit in 2008 and refundable? Discussion:'first time home buyer' Discussion:1st time home buyer? (Couple not yet married) Discussion:1st time homebuyer credit (not yet pr residence) Discussion:E-file & first time homebuyer credit Discussion:FTHB - Amended - Refund takes how long? Discussion:FTHB and unusual 121 situation Discussion:FTHB credit denied, mobile home (consumer Q) Discussion:First Time Home Buyer - Related Party Discussion:First Time Home Buyer Credit

D cont. Discussion:First Time Home Buyer Tax Credit Discussion:First Time Home Buyers - AGI Phaseout Discussion:First Time Homebuyer Credit Amended Returns - MFJ now, Single L/Y Discussion:First Time Homebuyer credit (when still on deed after divorce) Discussion:First Time Homebuyers Credit land contract Discussion:First time home buyer - inherited / purchased Discussion:First time home buyer credit for mobile home owners Discussion:First time homebuyer - amend or wait? Discussion:First time homebuyer credit - Offer in compromise Discussion:First-Time Homebuyer Credit-Amended Return Discussion:First-time Homebuyer's Tax Credit (owned mobile home) Discussion:First-time home buyer credit where owner has a roommate Discussion:Gift funds effect on first time homebuyer credit Discussion:Homebuyer Credit - Early Repayment

D cont. Discussion:Homebuyers credit and related parties? Discussion:Homebuyers credit.. purchase definition Discussion:Is NACA a mortgage revenue bond under FTHB? Discussion:Meaning of "down payment assistance" Discussion:Mortgage Interest Credit and First Time Home Buyer Credt Discussion:New homebuyer "credit" - $8000 vs $7500 Discussion:New housing credit using contract for deed Discussion:Notice 2009-12 Discussion:Refund Timeframe for amended return for FTHBC F First-Time Homebuyers Have Several Options to Maximize New Tax Credit T Tax Credit to Aid First-Time Homebuyers; Must Be Repaid Over 15 Years W Worker, Homeownership and Business Assistance Act of 2009