(Closed) $8k tax credit – when do I get this?

posted 8 years ago in Home
Post # 3
Member
258 posts
Helper bee
  • Wedding: October 2010

…whenever you want after you officially close on your house.

You can submit an amendment to your taxes after you close to get the 8k ASAP or you can want until next years taxes.

Good luck!

Post # 4
Member
1074 posts
Bumble bee
  • Wedding: May 2009

We closed in October, and amended our 2008 taxes. We had to split it cause we filed separately in 2008. My husband got his half in 2-3 months, and I’m still waiting on mine! I had to send proof of purchase (settlement papers, mortgage statement, etc) and that added extra time. I wish it would come sooner!

Post # 6
Member
258 posts
Helper bee
  • Wedding: October 2010

Hmmmmm not sure..we had our taxes done by a professional. In order to get the 8k we needed to give her the following:

closing statement

Form 1098 from the bank we got the loan from

Do you have a Tax Professional that could tell you for sure what you need and when you can file. Maybe your mortgage person would know as well.

 

Post # 7
Member
7431 posts
Busy Beekeeper
  • Wedding: October 2009

You have to close before you can amend your taxes, and the current wait time to get the check is minimum 4 months. The amendment has to be done on paper. So your looking at at least September before you will see the money

Post # 8
Member
8353 posts
Bumble Beekeeper
  • Wedding: March 2011

Not sure, but I think you will have to wait until next year when you do your taxes for this year.

Post # 9
Member
7431 posts
Busy Beekeeper
  • Wedding: October 2009

@noritake – you can definitely amend your 09 taxes even though the house wasn’t bought until this year

Post # 11
Member
7431 posts
Busy Beekeeper
  • Wedding: October 2009

Sweet, I didn’t know they tack on interest, I hope mine takes a little longer than normal Money mouth

Post # 12
Member
1944 posts
Buzzing bee
  • Wedding: June 2009

You can send in all the information you want, but it does not mean it will speed up the process. There are people I know that sent theirs in October and sent pretty much everything you plan to and they are still waiting. My advice is don’t go into this thinking it is gaurenteed money, that is a big financial mistake. Yes it would be nice to have it back in a few weeks, but not likely. If and when we get ours, great, all we plan to do is put half in savings and half towards prinicpal extra payments. It is not something we are going to blow.

Post # 13
Hostess
18643 posts
Honey Beekeeper
  • Wedding: June 2009

I would file an extension now and then wait until you close on the house.  You need to have the closing statement, which you won’t have until the actual closing on the home.  It will probably take longer than usual because they are checking every single on of the tax returns with the homeowners credit.

Post # 14
Member
4123 posts
Honey bee
  • Wedding: October 2010

So, if your not married, and jointly buying a house, you can only get half? Or can one of the two of you ask for all?

Post # 15
Hostess
18643 posts
Honey Beekeeper
  • Wedding: June 2009

@KLP: You might have to split the credit between the two of you.  Or you might be able to just put it on one of your tax returns.  I’m not completely sure though but I’m sure you get the full $8k!

Post # 16
Member
258 posts
Helper bee
  • Wedding: October 2010

My Fiance and I are not married…he claimed the house on his taxes (even though the loan was joint) he will get all the house tax and 8k money (and then share it with lil me 🙂

I dont think you ever just get 1/2 the money tho.

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