If I closed on my home in November 2010, am I still able to receive the first-time home buyer tax credit?

7 Answers

Relevance
  • Bobbie
    Lv 7
    10 years ago
    Favorite Answer

    No not from the above enclosed information as you missed the OFFICIAL closing dates for the purchase of your home for the FTHBC.

    Deadlines

    You must meet the required deadlines to be eligible to claim the credit. For other information on eligibility requirements, see our questions and answers.

    * You must have bought — or entered into a binding contract to buy — a principal residence on or before April 30, 2010.

    * If you entered into a binding contract by April 30, 2010, you must close (go to settlement) on the home on or before Sept. 30, 2010 (recent legislation extended the June 30 deadline previously in effect).

    Unless the below enclosed information would apply to your situation.

    Extension of Tax Credit Deadlines

    * The home buyer tax credit is available for qualified purchases with a binding sales contract in place on or before April 30, 2010 and closed by September 30, 2010.

    * However, for qualified service members who are ordered on a period of official extended duty, these dates are extended. For these home buyers, the tax credit applies to sales with a binding sales contract in place on or before April 30, 2011 and closed by June 30, 2011.

    * A person who is forced to return to the U.S. for medical reasons before completing an assignment of at least 90 days of qualified official extended duty outside of the United States may qualify for the one-year extension.

    Definitions

    * “Qualified service member” means a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community.

    * “Official extended duty” means any period of extended duty outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010.

    http://www.federalhousingtaxcredit.com/service_mem...

    Hope that you find the above enclosed information useful.

  • 10 years ago

    Unfortunately, you must have entered into a binding contract by April 30, 2010 and closed on that home by September 30, 2010 to receive that credit.

  • Kini
    Lv 7
    10 years ago

    The program is over with. It had been extended to September 30th closing date. Here is the IRS page

    http://www.irs.gov/newsroom/article/0,,id=204671,0...

  • Mike
    Lv 6
    10 years ago

    Nope. That program was over in June.

  • How do you think about the answers? You can sign in to vote the answer.
  • Jss
    Lv 7
    10 years ago

    No, you do not get the credit.

  • tro
    Lv 7
    10 years ago

    no, long past the deadline date

  • Judy
    Lv 7
    10 years ago

    No, that's over with - you're too late.

Still have questions? Get your answers by asking now.