Apr 02, 2010

Claim That First-Time Homebuyer's Credit!

It's almost tax time! If you haven't filed already (uh, I certainly haven't), and you've bought a house recently, that means it's time to take a closer look at what's required to get the credit for first-time, and in some cases returning, home buyers.

See my earlier post on this for a rundown of the qualifications, as well as some tips from the IRS.

Also consider buying a copy of your favorite tax software, or picking up paper copies. Because you'll have to provide some documentary proof of the purchase, you CANNOT e-file and claim the credit. (Though you can, if you wish, fill out the forms online, print them out, and send them in.)

For a good rundown of that and other potential pitfalls to avoid when claiming the credit, see The Wall Street Journal's MarketWatch advice.