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Re: first time home buyer what was that

My federal is rejected my return due to first time buyer 

 

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Re: first time home buyer what was that

The first time homebuyer credit in 2008 was an attempt to jump start the economy by helping people to buy a house.  It was a credit of up to $7500, that has to be repaid $500 per yer over 15 years, or when you stop using the home as your main home, whichever comes first.

 

The rejection means that either you didn't make a payment the IRS thinks you owe, or you are trying to make a payment the IRS doesn't think you owe.

  • Did you buy a home in 2008 and claim the credit?  If so, you need to make a payment now, or you need to report that you sold or moved out of the house.
  • If you did not get the credit in 2008, did you somehow claim you did so you are trying to make a payment you don't owe?
  • Or maybe their database is wrong.

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