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First-Time Home Buyer Tax Credit

A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid.

More info:  http://www.federalhousingtaxcredit.com/2009/home2.html

Robert. Thank you very much for your excellent information.

I have a question. If my federal income tax due for 2008 is less than 8000, would I still get the 8000 amount. I ask because last year I was able to get all my federal income tax back through itemized deductions, now if I am getting all the tax back as refund would I get a refund of $8000 on top of that or no?

obaid at 08:41PM on Jun 14, 2009

I have a question. If my federal income tax due for 2008 is less than 8000, would I still get the 8000 amount. I ask because last year I was able to get all my federal income tax back through itemized deductions, now if I am getting all the tax back as refund would I get a refund of $8000 on top of that or no?

From what I heard you can only get one refund.