How to declare FTHBC

[ninamaggi8]

I received the First Time Home Buyer Credit in 2009 and I still own and reside in the home I received the credit for purchasing. Turbo Tax asks if I received the credit in 2008, which I did  not.  However, the other option is to select "No, I never received this credit," which is not accurate either. How should I answer this question?

[Opus 17]

The answer is no, you never received the credit in 2008.

The reason the question is asked that way, is that the 2008 credit needs to be repaid over 15 years.  The 2009 credit does not need to be repaid unless you sold, moved out, or disposed of the home in the first 36 months of ownership.  After that, it was forgiven.

I hope you haven't been making payments on a credit that did not need to be repaid.

[ninamaggi8]

Thank you!