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    2oe1's Avatar
    2oe1 Posts: 1, Reputation: 1
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    #1

    Jan 6, 2010, 07:46 PM
    First time home buyer credit?
    I wanted to post this question because I have been trying to research it on other sites and thought someone could help me well I need to know is the first time home buyers credit apart from your regular return?is it money that they send you or just a credit to your gross income?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Jan 6, 2010, 10:37 PM

    It is a refundable tax credit that is your tax refund will increase by $8,000 (max. amount). Your U.S. Tax Return: First-Time Homebuyer Credit
    loanwizard's Avatar
    loanwizard Posts: 1, Reputation: 1
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    #3

    Jan 7, 2010, 10:22 AM
    It is a tax credit (dollar for dollar against your tax liability). If you want a CPA's advice, there is a post on my website http://firsttimehome.us with a link toward a TurboTax page on Facebook, which let's you post your question and get it answered by a TurboTax CPA
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