$o I just received my First Time Homebuyer tax credit, BUT...

doesnt look like a mistake but congrats
pimp.gif
 
dont mess with it. call the irs and get it straight. irs interest rates are premium. call and ask for another check. they may have messed up, but you will pay in the long run.
 
Originally Posted by justhotkicks

Originally Posted by demonbasketball04

BTW, my house was $74,000

Damn, my down payment was around that.
My down payment was $30K more that OP's house is worth.

I don't know if I should laugh or cry.
 
umm i think its correct OP. ive seen tv advertisement about the homebuyer credit extension. not only that but i think they increased it. I think your seeing the increase. Its legit imo.
 
Originally Posted by ps2child

umm i think its correct OP. ive seen tv advertisement about the homebuyer credit extension. not only that but i think they increased it. I think your seeing the increase. Its legit imo.


Heard about the extension, didn't hear about the increase though?
 
its simple spend half save the other half and if they coming knocking set up a payment plan

look at that money as a loan if they dont come to you by the end of next tax season you good to go in on that other half
pimp.gif
 
I'm in real estate and I have not heard of anyone going beyond $8k.

I would throw extra into a high yielding bond or something of that nature.  Your savings account is not going to pay you crap.  If it is a mistake it will take them at least a year to figure it out and in that time you could make a few hundred.  There are obviously other options that could make you more scrap but they are risky.

Good looks on the house.  Conrats on that and the second kid!
 
Originally Posted by demonbasketball04

Originally Posted by handullz

Originally Posted by Toy Collector123

Take that money, buy another house.
pimp.gif


best response in this thread...

you seem to have things on track g...

you copped a house.... i'm sure transportation isnt an issue...

and i know you got food in the fridge...

that's all that really matters, g...

take that bread... cop another house...

then rent it out...

that way, they could be payin the mortgage FOR YOU...

and you can always have some lil spending change, too...

pimp.gif

I'm definately not hurting for money, but it's aways nice to have extra $$.

We're actually planning on buying a Dodge Durango. Just had our 2nd child in December, the car size we got isn't cutting it anymore.

As for buying/renting another house, that's more hassle/work than I got time for these days.
ohwell.gif

  


fa sho...

i dig what you sayin about that because you have to be the landlord, and do all that stuff...

i didnt know you had kids and a wife...

so a car would be straight...

i would only buy a new car, or one w/ REAL LOW miles...

cuz cars do nothin but depreciate, while land goes nowhere but up...

and you say you aight on the dough...

what do you do for a living?

not tryin to get in ya biz, but i'm 20 in college, and just wanna know what successful people's occupations are...
 
Originally Posted by handullz

Originally Posted by demonbasketball04

Originally Posted by handullz

Originally Posted by Toy Collector123

Take that money, buy another house.
pimp.gif


best response in this thread...

you seem to have things on track g...

you copped a house.... i'm sure transportation isnt an issue...

and i know you got food in the fridge...

that's all that really matters, g...

take that bread... cop another house...

then rent it out...

that way, they could be payin the mortgage FOR YOU...

and you can always have some lil spending change, too...

pimp.gif

I'm definately not hurting for money, but it's aways nice to have extra $$.

We're actually planning on buying a Dodge Durango. Just had our 2nd child in December, the car size we got isn't cutting it anymore.

As for buying/renting another house, that's more hassle/work than I got time for these days.
ohwell.gif

  


fa sho...

i dig what you sayin about that because you have to be the landlord, and do all that stuff...

i didnt know you had kids and a wife...

so a car would be straight...

i would only buy a new car, or one w/ REAL LOW miles...

cuz cars do nothin but depreciate, while land goes nowhere but up...

and you say you aight on the dough...

what do you do for a living?

not tryin to get in ya biz, but i'm 20 in college, and just wanna know what successful people's occupations are...


Nah you straight man.
I work for a health insurance company. Pay is decent, I manage my $$ very well though.
 
when did you buy the house?????? for example if you were living in the house but did not file for the homeowners tax credit until after your original return (you filed an amended 1040) you might be getting some property tax/home owners insurance back with your tax credit...(7400+4200=11600......14800-11600=3200) look for sums equaling $3200 that you have paid....closing costs on your house, maybe you rolled those into your mortgage, they are deductible, as are any points you paid to buy your mortgage rate down. But if you moved into the house after after 2009, I dont know where that extra money came from.....

the gov usually doesn't make many mistakes when it comes to paying folks money. Dont go waste that money, place it into a 3 or 6 month CD, that you can keep rolling over.....if they ask for it, you pay it back...... but at least get some interest form the money they may have wrongly given you...
 
Originally Posted by SIZE TENS

Originally Posted by justhotkicks

Originally Posted by demonbasketball04

BTW, my house was $74,000

Damn, my down payment was around that.
My down payment was $30K more that OP's house is worth.

I don't know if I should laugh or cry.
you put 100k down on a house?.....thats what I bought my house for......I need to get into what ever you are doing!!!!! 
 
Originally Posted by DublBagn

when did you buy the house?????? for example if you were living in the house but did not file for the homeowners tax credit until after your original return (you filed an amended 1040) you might be getting some property tax/home owners insurance back with your tax credit...(7400+4200=11600......14800-11600=3200) look for sums equaling $3200 that you have paid....closing costs on your house, maybe you rolled those into your mortgage, they are deductible, as are any points you paid to buy your mortgage rate down. But if you moved into the house after after 2009, I dont know where that extra money came from.....


I moved in to the house in May of 2009, and yes, I filed an amended return with a 1040 form attached. But I already received my original return in January.
 
Originally Posted by SIZE TENS

Originally Posted by justhotkicks

Originally Posted by demonbasketball04

BTW, my house was $74,000

Damn, my down payment was around that.
My down payment was $30K more that OP's house is worth.

I don't know if I should laugh or cry.

jeez...

$100K for a down payment on a house?

how much was the house? and how long you been savin for that one, homey?
  
 
Originally Posted by demonbasketball04

Originally Posted by DublBagn

when did you buy the house?????? for example if you were living in the house but did not file for the homeowners tax credit until after your original return (you filed an amended 1040) you might be getting some property tax/home owners insurance back with your tax credit...(7400+4200=11600......14800-11600=3200) look for sums equaling $3200 that you have paid....closing costs on your house, maybe you rolled those into your mortgage, they are deductible, as are any points you paid to buy your mortgage rate down. But if you moved into the house after after 2009, I dont know where that extra money came from.....


I moved in to the house in May of 2009, and yes, I filed an amended return with a 1040 form attached. But I already received my original return in January.
then that money is yours, i would say this 99% confidence....so let me get this correct, you closed on the house in may of 2009, you filed your tax return for 2009, and basically just forgot to claim the home buyer credit on your original 2009 income tax, so you filed an amended 1040 for 2009 and you got a new check.......

did you get a check already for the tax form you filled out for 2009?  if so you were expecting an additional $7400 and you really got $14800? (did you get one check or two checks from your federal return???) 

still look at your closing costs, property tax and see how much those were....and did you pay any "points" to buy your rate down????
 
I put 300k down on my house.

I would call OP, theres nothing worse than having the FEDS in your business when they decide to come and get their money back if its a mistake.
 
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