One of the great things about the new 1st Time Homebuyer tax credit is that it can be claimed as soon as you close on your home.
If you have already filed can file an amended 2008 tax return with a 1040X form. This can be done even if a home was purchased early in 2009 and the original tax return claimed the $7,500 credit from last year.
Specifically home buyers use IRS Form 5405 to determine their tax credit amount, and then claim this amount on Line 69 of their 1040 income tax return. You will want to be sure that you qualify under the limits of the 1st Time Homebuyer tests.
One of the great things about the new 1st Time Homebuyer tax credit is that it can be claimed as soon as you close on your home.
If you have already filed can file an amended 2008 tax return with a 1040X form. This can be done even if a home was purchased early in 2009 and the original tax return claimed the $7,500 credit from last year.
Specifically home buyers use IRS Form 5405 to determine their tax credit amount, and then claim this amount on Line 69 of their 1040 income tax return. You will want to be sure that you qualify under the limits of the 1st Time Homebuyer tests.
One of the great things about the new 1st Time Homebuyer tax credit is that it can be claimed as soon as you close on your home.
If you have already filed can file an amended 2008 tax return with a 1040X form. This can be done even if a home was purchased early in 2009 and the original tax return claimed the $7,500 credit from last year.
Specifically home buyers use IRS Form 5405 to determine their tax credit amount, and then claim this amount on Line 69 of their 1040 income tax return. You will want to be sure that you qualify under the limits of the 1st Time Homebuyer tests.
Now that the news is out about the American Recovery and Reinvestment act of 2009 , many questions have surfaced about the $8000 first time homebuyer credit. I will discuss these this week. One of the first I get is "What Is a 1st Time Homebuyer and who is eligible to claim this tax credit?". A first time homebuyer is a person who has not owned a home in the last 3-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. For example, if you have not owned a home in the past 3 years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the credit. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer. An example is where a parent jointly purchases a home with a son or daughter. In this case the person qualifying as 1st time homebuyer may take the credit. If 2 qualify it may ony be claimed by one or allocated beteen them.
Now that the news is out about the American Recovery and Reinvestment act for 2009 , many questions have surfaced about the $8000 first time homebuyer credit. I will discuss these this week. One of the first I get is "What Is a 1st Time Homebuyer and who is eligible to claim this tax credit?". A first time homebuyer is a person who has not owned a home in the last 3-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. For example, if you have not owned a home in the past 3 years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the credit. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer. An example is where a parent jointly purchases a home with a son or daughter. In this case the person qualifying as 1st time homebuyer may take the credit. If 2 qualify it may ony be claimed by one or allocated beteen them.
 |
|
|
SELLING? Custom marketing & comm. rates that best suit you. BUYING? All available, not just our listings. COMMUNICATION. IT'S A MUST! You'll never say 'I can't reach my agent'. FREE CMA & Auto Alerts.
From LSU/SU and Highland Road South thru White Oak & Shenendoah & Prairieville/Ascension. North to Broadmoor/Sherwood & Denham/Livingston thru Central to The Felicianas & Zachary/St. Francisville
1st Time; ReLo; HUD; Residential; Commercial
SELLING A HOME? Broker has earned the SRS (Seller Representative Specialist) Designation. http://www.srscouncil.com/SellerBenefits.asp We customize our marketing program to fit your special needs. Our commission rates range from low reduced rates to expanded marketing rates; pick the one that best suits your situation! We offer the most aggressive marketing plans available in the industry today. Find out the extras we offer. We are your Business consultants, not just real estate agents.
BUYING A HOME? First-time or Experienced...It's our goal to make the process of finding Your home a pleasurable experience: finding just the right loan; working with all available properties and not just pushing our listings; coaching you thru the process of appraisal, inspections, title-work and closing. Call for a FREEAUTO ALERT via email.
"My husband and I have worked with Baton Rouge Area Homes and Ann for over three years now. We purchased a townhouse in Baton Rouge in 2001 with Ann, and since then Ann has worked diligently to keep us informed about the market in our area. She has helped us look for property and continues to do so. Ann gave us very useful tips and references when we built our new home. The list could go on and on of the many services Ann provides in the Real Estate business. Most importantly Ann is so prompt and accurate in her response and information, which rates her #1 in customer service in our book! Thanks for all your hard work, Ann!" (During corporate transfer,she sold our home quickly to secure our bonus!)-Galeb Ghaddar, Exxon Mobil -Kiley Ghaddar, Homeowner, Fair Oaks
"Very pleasant experience. BRAH takes full advantage of technology and does a great job of giving the seller feedback on property showings. Ann Dail is a very knowledgeable real estate agent/broker and I have a lot of confidence that the advice she gives her clients is sound" - David Davis, Homeowner, White Oak Landing
"Thank you for this opportunity to share about my experience. The first thing I wanted to say about working with you is that you listened. Secondly, you were compassionate. I was going through a very difficult time and my sadness often got the best of me. You helped me hold it together for the closing of one house and the purchasing of another. I knew I could count on you to tell me the truth and to evaluate offers fairly - using your best judgment to help me make some very important and difficult decisions. You always conveyed that you had my best interest at heart in all my conversations and dealings with you. I knew I had found a prize in you! ." Mary Wilkins, Managed Health Care, Homeowner, Carter Hills, Denham Springs
-Ann Dail sold me my first house and she was absolutely wonderful. I have referred clients to her for both listing and those who need an agent. She has always done a spectacular job for both. Laura Sonnier, Homeowner Parkview Oaks
"Ann was great in helping me find my first home. I was a first time buyer and she made the process completely painless. She was able to explain things in a manner that made sense to me. She always looked out for my best interests. I would definitely recommend her to any of my friends or family looking to purchase a home in the Baton Rouge area." -Scott LaFleur, Stryker Endoskopy Homeowner, Country Ridge
"Baton Rouge Area Homes assisted us with the purchase of a condo for our daughter, an LSU student. We live in Houston, and had no knowledge whatsoever of the Baton Rouge real market. Ann made the process a breeze. She happily spent the time necessary to familiarize us with different areas of the city and with Louisiana real estate laws. A true professional, Ann has stayed in touch with us over the last year, providing names of contractors and companies to assist with maintenance of our property. Our highest recommendation goes to BRAH for anyone looking for a qualified and honest real estate company." -Tom & Debbie Ashley, Houston, Texas
"Baton Rouge Area Homes was very helpful in helping me purchase my first home. My agent, Ann, was always willing to show me a home at the last minute and was very knowledgeable when I had questions. As a first time buyer I had many questions and/or concerns with purchasing a home, but Ann was always honest, forth coming and patient with me. I highly recommend Baton Rouge Area Homes to anyone looking to purchase or sell your home. If you're looking for a company with integrity, character, and honesty, then Baton Rouge Area Homes is the choice for you. -Angie J. Brown, Pennington Biomedical Homeowner, Perkins Village
"My experience with buying a home through Baton Rouge Area Homes was definitely a good one. Ann's knowledge and experience made me feel at ease throughout the home buying process. I have already recommended Baton Rouge Area Homes to friends and family and will continue to do so in the future." -Aaron Gothreaux, First Time HomeBuyer Homeowner, Stumberg Place
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
