If i bought my house in august 2008 will i get the first time buyers tax credit?

If i bought my house in August of 2008 (bout 2 months ago) will i be able to file for the first time buyers tax credit IN THIS UP COMING TAX SEASON? Ive looked around on other sites, but it is so hard for me to understand that i cant find a good answer





thank you

If i bought my house in august 2008 will i get the first time buyers tax credit?
You should be able to qualify for it. The final rules have not been published by the IRS yet. There is an income ceiling similar to the one for the stimulus rebates. And keep in mind that although you will claim it on your tax return, it is NOT a true credit but an interest free loan that has to be repaid at $500 per year for 15 years. If you sell before the expiration of the 15 years, you must repay any balance in full from the profits from the sale.
Reply:Yes, if you otherwise meet the definition of first-time buyer.

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