Comments on: Give Us a Break: New Tax Credits for Homeowners http://www.loanbiz.com/blog/2008/08/08/give-us-a-break-new-tax-credits-for-homeowners/ Loan Business News, Information, and Consumer Education Thu, 17 May 2012 16:46:06 +0000 http://wordpress.org/?v=2.3.2 By: Lindsey http://www.loanbiz.com/blog/2008/08/08/give-us-a-break-new-tax-credits-for-homeowners/#comment-5512 Lindsey Sun, 08 Feb 2009 21:07:55 +0000 http://www.loanbiz.com/blog/2008/08/08/give-us-a-break-new-tax-credits-for-homeowners/#comment-5512 Does anybody know why they chose the date April 9th? Myself, like many others had a closing date right before this date and could absolutely use this loan! Why does someone who purchased their house on April 9th deserve this loan more than me who purchased a week earlier? And why shouldn't everybody know ahead of time, like the people who are deciding to close on a certain date because they already know about the tax credit? I obviously would've closed a week later if I would've known. This is completely screwed up to me. I'm begging for a explanation-anybody? Does anybody know why they chose the date April 9th? Myself, like many others had a closing date right before this date and could absolutely use this loan! Why does someone who purchased their house on April 9th deserve this loan more than me who purchased a week earlier? And why shouldn’t everybody know ahead of time, like the people who are deciding to close on a certain date because they already know about the tax credit? I obviously would’ve closed a week later if I would’ve known. This is completely screwed up to me. I’m begging for a explanation-anybody?

]]> By: Aleisha http://www.loanbiz.com/blog/2008/08/08/give-us-a-break-new-tax-credits-for-homeowners/#comment-3882 Aleisha Thu, 11 Dec 2008 23:40:50 +0000 http://www.loanbiz.com/blog/2008/08/08/give-us-a-break-new-tax-credits-for-homeowners/#comment-3882 That really stinks because we closed on our house on April 8th. Seriously, it really bites!! That really stinks because we closed on our house on April 8th. Seriously, it really bites!!

]]> By: liz freeman http://www.loanbiz.com/blog/2008/08/08/give-us-a-break-new-tax-credits-for-homeowners/#comment-2662 liz freeman Wed, 05 Nov 2008 00:11:11 +0000 http://www.loanbiz.com/blog/2008/08/08/give-us-a-break-new-tax-credits-for-homeowners/#comment-2662 Hi Ginny, Tax credits are not the same as deductions and so it doesn't matter if you itemize or not. John, I believe that you get it this year--I haven't seen anything about being able to take it next year. Although a back-door way to do what you want would be to file without claiming it, then file an amended 08 return the following year and claim it then. But why would you want to? It's a refundable credit, meaning that you get the whole thing regardless of how much tax you pay. Why not have it now, available for investing, paying off debt, etc? Hi Ginny,

Tax credits are not the same as deductions and so it doesn’t matter if you itemize or not.

John, I believe that you get it this year–I haven’t seen anything about being able to take it next year. Although a back-door way to do what you want would be to file without claiming it, then file an amended 08 return the following year and claim it then. But why would you want to? It’s a refundable credit, meaning that you get the whole thing regardless of how much tax you pay. Why not have it now, available for investing, paying off debt, etc?

]]> By: john http://www.loanbiz.com/blog/2008/08/08/give-us-a-break-new-tax-credits-for-homeowners/#comment-2124 john Wed, 08 Oct 2008 19:54:34 +0000 http://www.loanbiz.com/blog/2008/08/08/give-us-a-break-new-tax-credits-for-homeowners/#comment-2124 I bought house in oct 2008, but do not want the credit in 2008 tax return, can i take the 7500 credit for tax return of 2009 John I bought house in oct 2008, but do not want the credit in 2008 tax return, can i take the 7500 credit for tax return of 2009
John

]]> By: ginny http://www.loanbiz.com/blog/2008/08/08/give-us-a-break-new-tax-credits-for-homeowners/#comment-2098 ginny Mon, 06 Oct 2008 20:21:34 +0000 http://www.loanbiz.com/blog/2008/08/08/give-us-a-break-new-tax-credits-for-homeowners/#comment-2098 Can this credit be taken if you itemize deductions? Can this credit be taken if you itemize deductions?

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