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Author
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Topic: 2009 home buyers $8000 credit...question?
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SydeWaySix
CAFords OG
Member # 3596
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posted
 
 
For those who purchased their first home in 2009, who all applied for the free $8000? If you did and already received it, how long did it take to get the check? I ammended my 2008 taxes a few weeks ago to get the $8000 now but still haven't gotten the check...how long should I expect to wait???
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2013 Boss 302 #356. Performance White. Stock.
1965 Fastback GT Restored to stock spec.
Posts: 9882 | From: Bay Area | Registered: Dec 2002
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adower
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Member # 5955
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posted
From what I am told you have to wait until next years taxes to come around.
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98 Cobra
Griggs
S Trim
HRE
Posts: 3327 | Registered: Aug 2005
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Mr.Lucky
CAFords OG
Member # 1772
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posted
quote:
Originally posted by adower:
From what I am told you have to wait until next years taxes to come around.
unless you do what he did and ammended your last years taxes. id say just like normal taxes give it a few feeks, being housing related give it an extra 2-4 on top of that,
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95GT: Bolt ons.
Good sellers/buyers: Stangs R Us, 1SicGt, sn4bwc, racsirx, WickedStang, Autumnstang97, cali95gt
Posts: 4197 | From: Manteca | Registered: Sep 2002
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50 Deep
Jockin 03 Cobras
Member # 6216
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posted
From what I remember its only applied to new homes right?
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Signature Wheel Ford Representative
Email: Terrance@Signaturewheel.com
Instagram: @Signature_Wheel_Mustang
Web: www.SignatureWheel.com
Posts: 6043 | From: sacramento | Registered: Nov 2005
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N8
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Member # 6048
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posted
quote:
Originally posted by 50 Deep:
From what I remember its only applied to new homes right?
I do not think it is constrained to new homes, but I know it does not cover land purchases....BASTARDS!
Posts: 11638 | Registered: Sep 2005
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venomous99
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Member # 1917
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posted
its 8k for 1st time home buyers and an additional 10k can be had(distributed over 3 years) if the home is new.
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MKII Q7
89LX
Posts: 4811 | From: dc | Registered: Oct 2002
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Chris83179
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Member # 6017
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posted
quote:
Originally posted by venomous99:
its 8k for 1st time home buyers and an additional 10k can be had(distributed over 3 years) if the home is new.
Correct. I purchased first time in February, filed taxes and for the 8k at the end of Feb, and it was deposited within a couple weeks. I was told as well that the $8k doesn't have to be paid back as long as I do not sell within 3 years...
Posts: 558 | From: Bay Area & Sac | Registered: Sep 2005
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8stang8
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Member # 8082
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posted
quote:
Originally posted by Chris83179:
quote:
Originally posted by venomous99:
its 8k for 1st time home buyers and an additional 10k can be had(distributed over 3 years) if the home is new.
Correct. I purchased first time in February, filed taxes and for the 8k at the end of Feb, and it was deposited within a couple weeks. I was told as well that the $8k doesn't have to be paid back as long as I do not sell within 3 years...
Im in the same boat... who did you have to contact or should i say what did you have to go through to get the check? ![[patriot]](graemlins/patriot.gif)
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Fox body coupe: 347, TKO, 3.73s, 9.93 @ 143
Posts: 1279 | From: s.f. | Registered: Dec 2007
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SydeWaySix
CAFords OG
Member # 3596
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posted
Yes, the $8000 is free if you own the house for 3 yes. $10,000 is for new homes. I went to h&r block and got them to ammend my taxes and it cost me about $100.
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2013 Boss 302 #356. Performance White. Stock.
1965 Fastback GT Restored to stock spec.
Posts: 9882 | From: Bay Area | Registered: Dec 2002
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turbo50
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Member # 6700
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posted
2009 only purchases, correct?
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.........when was the last time YOU built something with YOUR own hands?
I offer quality sidework at reasonable prices. PM ME
Posts: 7606 | From: Discovery Bay, California | Registered: Apr 2006
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Jdub07
( O Y O )
Member # 2728
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posted
Free? lol from what I understand you pay it back over through your taxes each year. You don't notice it because it's automatically done for youu. Like $500 until paid back.
That was how our $7500 works anyway
Posts: 7282 | Registered: Apr 2003
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venomous99
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Member # 1917
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posted
some key points highlighted. it is not a loan and if you make more than 75k and you're single, you're not eligible for it. oh well...
$8,000 Tax Credit For Home Buyers
The $8,000 tax credit for first-time home buyers should entice some first-time home buyers to “jump-in” and buy a home, but it may prove to do little in increasing overall demand as first-time home buyers represent a small percentage of the entire market. Only time will tell if the tax credit is effective.
* The borrower must agree to homewoner counseling by a DOJ approved debt counseling agency
* Available only to first-time home buyers
* The tax credit is not a loan and does not require repayment*
*If the home is sold within 3-years, the $8,000 tax credit must be re-paid
* The tax credit reduces the home buyer’s tax liability; if the buyer’s liability is less than $8,000, the remaining credit will be issued as a check
* Home purchase must be for a primary residence
* The credit is available on home purchases between January 1, 2009 and December 1, 2009
* If you are single and make $75,000 or more, or are married and make $150,000 or more, you do not qualify for the tax credit
* The credit is not eligible if the seller is a relative of the buyer – Thanks Tina Fountain
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MKII Q7
89LX
Posts: 4811 | From: dc | Registered: Oct 2002
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SydeWaySix
CAFords OG
Member # 3596
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posted
Alex..thanks for the info! That will clarify a lot of peoples questions.
Jdub...yes it is free in 2009! I remember you buying in 2008 and that's why you have to pay it back. 2009 ftw ![[Wink]](wink.gif)
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2013 Boss 302 #356. Performance White. Stock.
1965 Fastback GT Restored to stock spec.
Posts: 9882 | From: Bay Area | Registered: Dec 2002
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Pittsburg Mustang Owner
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Member # 6100
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posted
i just purchased my first home in May. I was told i would have to wait until next year.
Is it possible for me to get the credit sooner? Would be great cuz i need a new washer/dryer
Posts: 1019 | From: Pittsburg, CA | Registered: Oct 2005
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Chris83179
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Member # 6017
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posted
quote:
Originally posted by 8stang8:
quote:
Originally posted by Chris83179:
quote:
Originally posted by venomous99:
its 8k for 1st time home buyers and an additional 10k can be had(distributed over 3 years) if the home is new.
Correct. I purchased first time in February, filed taxes and for the 8k at the end of Feb, and it was deposited within a couple weeks. I was told as well that the $8k doesn't have to be paid back as long as I do not sell within 3 years...
Im in the same boat... who did you have to contact or should i say what did you have to go through to get the check?
My tax man did all the wheelin and dealin...
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13 Focus ST
01 Bullitt - Sold
Posts: 558 | From: Bay Area & Sac | Registered: Sep 2005
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SydeWaySix
CAFords OG
Member # 3596
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posted
quote:
Originally posted by Pittsburg Mustang Owner:
i just purchased my first home in May. I was told i would have to wait until next year.
Is it possible for me to get the credit sooner? Would be great cuz i need a new washer/dryer
That's what I was saying...get your 2008 taxes ammended for this new tax credit and you'll get it this year!
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2013 Boss 302 #356. Performance White. Stock.
1965 Fastback GT Restored to stock spec.
Posts: 9882 | From: Bay Area | Registered: Dec 2002
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Pittsburg Mustang Owner
¯
Member # 6100
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posted
^niiicccceeeee
good looking out. I should just hit up any accountant or CPA or something? Jackson Hewitt/H&R block type place too?
Posts: 1019 | From: Pittsburg, CA | Registered: Oct 2005
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8stang8
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Member # 8082
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posted
quote:
Originally posted by Chris83179:
quote:
Originally posted by 8stang8:
quote:
Originally posted by Chris83179:
quote:
Originally posted by venomous99:
its 8k for 1st time home buyers and an additional 10k can be had(distributed over 3 years) if the home is new.
Correct. I purchased first time in February, filed taxes and for the 8k at the end of Feb, and it was deposited within a couple weeks. I was told as well that the $8k doesn't have to be paid back as long as I do not sell within 3 years...
Im in the same boat... who did you have to contact or should i say what did you have to go through to get the check?
My tax man did all the wheelin and dealin...
Right on yall... readin this post has me going to get my taxes amended today at 5!
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Fox body coupe: 347, TKO, 3.73s, 9.93 @ 143
Posts: 1279 | From: s.f. | Registered: Dec 2007
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venomous99
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Member # 1917
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posted
quote:
Originally posted by Pittsburg Mustang Owner:
^niiicccceeeee
good looking out. I should just hit up any accountant or CPA or something? Jackson Hewitt/H&R block type place too?
or u can do it yourself with one of the popular tax programs like turbo tax or just read up on what forms you need to submit.
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MKII Q7
89LX
Posts: 4811 | From: dc | Registered: Oct 2002
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Jdub07
( O Y O )
Member # 2728
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posted
quote:
Originally posted by SydeWaySix:
Alex..thanks for the info! That will clarify a lot of peoples questions.
Jdub...yes it is free in 2009! I remember you buying in 2008 and that's why you have to pay it back. 2009 ftw
Now it's free? Aint that some shit. Oh well.
Posts: 7282 | Registered: Apr 2003
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