Sunday, October 11, 2009

How much will I get back from the $7500 tax credit for first time buyer?

I get earned income credit. I am lower income raising 2 kids. How can I figure this out without waiting till I file. Thank You!!!

How much will I get back from the $7500 tax credit for first time buyer?
http://answers.yahoo.com/question/index;...
Reply:Loan for 10% of the purchase price up to $7500. No interest loan so if you purchased a home for 35K you can get $3,500
Reply:It is not a tax credit. It is an interest free loan that must be paid back @ $500.00 a year.
Reply:It has nothing to do with any other credits.


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