Question

Confused about this Q: "Did you get the homebuyer credit in 2008? This was an interest-free loan that you started to pay back in 2010." Does this apply if i got in 2010?

Forum|Forum|5 years ago
May 14, 2021
1 reply
0 views

the language in the link provided isn't super clear. Even the IRS site is a little foggy. This is the first time i've seen the credit referred to as an interest-free loan. The language makes it seem like that's only if you bought in 2008 and got the credit. I bought in 2010 and got the credit, and it seems like like they changed it to not need a repayment at that time. I just wanted to make sure that it's not asking me if i received the credit at all vs receiving it just in 2008. The wording is throwing me off i guess.

TurboTax Self Employed Online

A

AnnetteB6

The question is only asking about the 2008 first-time homebuyer credit.

If you qualified and received the credit in 2010, then you do not need to enter anything about that as part of your tax return. The terms of the credits did change from one year to the next and any 2008 homebuyer credit is required to be repaid.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"