0
Yes as long as the property was not purchased by a family member.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What does line 369 of the first time home buyer's tax credit stipulate is the maximum amount one can claim?
Line 369 of the Home Buyerå«s Tax Credit stiputlates that first time home buyers can claim a maximum credit amount of $750. Only one partner can claim $750 on his/her tax return.
How do you know if you qualify for the first time buyer tax credit 2010?
There are some restrictions. Examples: Dependents aren't allowed to claim credit, NO credit if home is price is above $800,000, and you must be at least 18.
I am planning to sell a home and I am financing the purchase. The buyer seems to meet the requirement for a first time home buyer tax credit but I can't find out if owner financing will qualify. I would prefer to make the sale with a quit claim deed ?
As long as the deed will be in the buyer's name they will quailify for the credit. The credit is for anyone purchasing a home (for the first time. There isn't a financing requirement. So in theory if someone wanted to buy a home outright with all of their own funds, then they would still qualify for the credit. However, if the person is still unsure, they should check with their tax professional. In fact, I would put a stiuplation in the contract and/or mortgage that you are not guaranteeing that they will qualify for the first time home buyer tax credit. Because if for so reason they don't, you don't want them coming after you for the credit.
can i claim a making work pay credit ?
can i claim a making work pay credit can i claim a making work pay credit
Does a claim for an accident affect your rating when through a credit card?
No..but it will effect your current and future Insurance rates.
How do you obtain homebuyer credit?
If you are talking about the first time homebuyer credit, you will be able to receive this credit if you purchased a home between 2008-2010. To claim your credit you must do some through your annual tax return.
Condition or a warranty?
condition is a stipulation between seller and buyer . it goes to root of the contract .if there is breach of condition then seller can treat the contract as reputiated in condition if product is not given according to the satisfication then buyer can clai whole amount and return the product. a condition con be both condition as well as warranty.warranty is an assurance provided to the buyer from the company that their product is free from all the defects. if their is breac of warranty then buyer can claim only demages can not treat contract as repudiated
Is there a statute of limitation for reporting a claim?
Claims are normally based on an insurance contract. The contract will specify the time limit in which a claim must be filed.
How does a person receive the first time buyer tax credit 2010 if they have already filed their taxes?
If you have already filed your taxes, you can file an amended return to claim the credit. This process takes around 12 weeks to finalize. You must also have lived in the house you are filing for, for about three years.
What are the examples for intensive reading?
book keeping report, insurance claim,contract
Do you dispute the date of a paid federal tax lien with the IRS or the credit reporting agency?
If the lien appears on your credit report, you dispute it with the credit bureau. You can do this by ordering your credit report on line and issuing a dispute through their investigation department, of course, you will have to provide evidence for your claim.
What are implications for home buyer if seller collected claim for a new roof but did not repair it?
no implications
