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I declared bankruptcy and no longer have my house do i still owe back payment on the first time homeowners credit i got.

 
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LisaA
New Member

I declared bankruptcy and no longer have my house do i still owe back payment on the first time homeowners credit i got.

If you sold your house (or give it up in foreclosure) to a non-related person, and there was no gain on the sale, your repayment may be reduced or eliminated. When you get to the Deductions & Credits section of your Federal return, you'll find Homebuyer Credit Repayment under Your Home. When you complete this section we'll determine how much you have to repay.

https://ttlc.intuit.com/replies/5392736

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1 Reply
LisaA
New Member

I declared bankruptcy and no longer have my house do i still owe back payment on the first time homeowners credit i got.

If you sold your house (or give it up in foreclosure) to a non-related person, and there was no gain on the sale, your repayment may be reduced or eliminated. When you get to the Deductions & Credits section of your Federal return, you'll find Homebuyer Credit Repayment under Your Home. When you complete this section we'll determine how much you have to repay.

https://ttlc.intuit.com/replies/5392736

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