First time homebuyers credit received in 2008 for a home bought in 2009 (2024)

• TurboTax Deluxe Online

‎June 4, 20192:46 PM

If you are speaking about the Tell Us About Your Homebuyer Credit screen where it asks, Did you get the homebuyer credit in 2008? and you check the box next to Yes, and the home I received the credit for was still my main home on January 1, 2016. It then asks you the date of purchase. Turbo Tax is looking for a date between 1/1/2008 and 12/31/2008 because the credit was in essence a loan that has to be paid back. To receive the credit in 2008, you would have had to enter a purchase date in 2008 in order to receive the credit in that tax year.

If you received the credit in 2009, that was an actual credit that the IRS offered that did not have to be paid back if it remains your main home for the three years after the purchase..

One thing you can do is use this link to find out if the IRS shows any balances due for the First Time Homebuyer

Credit received in 2008- https://www.irs.gov/individuals/first-time-homebuyer-credit-account-look-up.

If you don't see a balance due on the site, you may not be subject to paying the credit back. This IRS link provides more information about the First Time Homebuyer Credit offered between 2008-2010.

https://ttlc.intuit.com/replies/3301433

If you are speaking about the Tell Us About Your Homebuyer Credit screen where it asks, Did you get the homebuyer credit in 2008? and you check the box next to Yes, and the home I received the credit for was still my main home on January 1, 2016. It then asks you the date of purchase. Turbo Tax is looking for a date between 1/1/2008 and 12/31/2008 because the credit was in essence a loan that has to be paid back. To receive the credit in 2008, you would have had to enter a purchase date in 2008 in order to receive the credit in that tax year.

If you received the credit in 2009, that was an actual credit that the IRS offered that did not have to be paid back if it remains your main home for the three years after the purchase..

One thing you can do is use this link to find out if the IRS shows any balances due for the First Time Homebuyer

Credit received in 2008- https://www.irs.gov/individuals/first-time-homebuyer-credit-account-look-up.

If you don't see a balance due on the site, you may not be subject to paying the credit back. This IRS link provides more information about the First Time Homebuyer Credit offered between 2008-2010.

https://ttlc.intuit.com/replies/3301433

If you are being asked that, please ignore the question or answer no if you paid the credit back. To ensure you have paid the credit and IRS has a record of it, please refer to the following IRSlinkto verify you have paid it back.

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