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Deductions & credits
That’s correct.
There was a federal First-Time Homebuyer Credit available for homes purchased in 2008.
It wasn’t a credit in the normal sense of the word, though: the taxpayer was generally required to repay one-fifteenth of the credit each year until it was paid off in full. Please see the IRS’ Instructions for Form 5405 (Rev. November 2021) for more information.
March 8, 2022
12:26 PM