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February 3, 2021
Question

The question if I got the homebuyer credit in 2008 - I bought my house in 2009. Do I answer that yes, since I did get a first time home buyer credit in 2009?

  • February 3, 2021
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February 3, 2021

No, The homebuyers credit of $7,500 on a qualifying home loan purchased between April 7, 2008 and December 31, 2008 was payable over 15 years. If required to repay the credit, you must file federal income tax return even if your gross income doesn't exceed your filing threshold. The repayment of first time homebuyers credit is reported on Form 5405. On the other hand, first-time homebuyers credit on a home purchased after 2008 were non payable