$7,643. woot.


Hooray for the first-time homebuyers credit.

1/22/2009 10:11:26 AM

yeah i'm kinda furious i mised it by 9 days when i closed

fuck you!

[Edited on January 22, 2009 at 10:12 AM. Reason : since i messed up allowances it'd have been ~10k instead of 2500]

1/22/2009 10:11:59 AM

still haven't got my W-2 yet.

1/22/2009 10:12:42 AM

me neither

just did some projections from my last pay stub

1/22/2009 10:14:14 AM

still haven't got my W-2 yet.

1/22/2009 10:14:35 AM

just got mine

embarrinsingly low

barely half of last years

1/22/2009 10:15:24 AM

im pissed

i would have owed $95 for federal and $0 for state (ga)

thats damn near perfect; however, i get the $600 economic stimulus check this time around as well as a $240 lifelong education credit so i have about $750 coming to me

if i would have known about both of those i would have altered my withholdings

1/22/2009 10:21:53 AM

Quote :

"yeah i'm kinda furious i mised it by 9 days when i closed"

you can get it next year. it goes through July. I even think there is a provision that you can have it moved up to this year...check the wikipedia article on first time homebuyers credit. I read something about it being moved up to this years return if you havnt filed yet.

1/22/2009 11:02:46 AM

so that credit essentially wipes out any capital you had to pull away for closing costs/fees and then some. impressive.

i can't say that i'm not jealous

1/22/2009 11:13:19 AM

well after doing a quick check yesterday it looks like I might owe some money back this year

gay

1/22/2009 11:14:03 AM

I wish full time students got a tax break . I think I paid around 6k in taxes last year, that I could have really used for living expenses and tuition.

1/22/2009 11:16:00 AM

Quote :

"you can get it next year. it goes through July. I even think there is a provision that you can have it moved up to this year...check the wikipedia article on first time homebuyers credit. I read something about it being moved up to this years return if you havnt filed yet."

got a link to the wiki article?

wiki search blows


I was under the impression that it was open for closings from April 9th 2008 -> July or something

I closed on April 1st

1/22/2009 11:19:17 AM

I'm still waiting on 1 of my W-2s. But I don't expect much back this year since I have to pay inheritance tax on that fucking dump up north

1/22/2009 11:21:22 AM

For my CA taxes I paid fed:$130 and State: $3.50

you think i'll have to pay or get anything back?
I only made around $3000

1/22/2009 11:25:25 AM

I think I'm going to get around $850.

For me, that's $texas.

1/22/2009 11:31:52 AM

Quote :

"so that credit essentially wipes out any capital you had to pull away for closing costs/fees and then some. impressive. i can't say that i'm not jealous"

My closing costs were only $2,300. I had an FHA loan. So basically I am replacing that, paying off credit card debt, and still putting over 1,000 in the bank.


And as for the guy who closed before April 9th, sorry. I thought you meant you closed 1-week into the new year. But if you closed early, youre basically screwed.

1/22/2009 2:22:35 PM

The calculator says I should be getting a shitton....... but I still need one of my W-2s before I can apply

I HOPE I GET BUTTLOTS

1/22/2009 2:28:17 PM

Quote :

"I wish full time students got a tax break . I think I paid around 6k in taxes last year, that I could have really used for living expenses and tuition."

Do you work, and if so, how much are you pulling in?
What was your financial aid package (if any) like?
I'm assuming that if you were wanting that 6K for living expenses, you don't have sizable investments.

1/22/2009 4:07:59 PM

about the only thing good about paying out the ass in school loans right now is that most of the payment is interest that I can claim on my return, bumps it up a good bit.

NOW JUST GIVE ME THE REST OF MY W2'S

1/23/2009 12:06:52 AM

still haven't got my W-2 yet.

1/23/2009 12:07:38 AM

1/23/2009 12:08:23 AM

still haven't gotten my W2 yet

1/23/2009 1:01:41 AM

neither have I

I need that money like whoa

1/23/2009 1:05:47 AM

Suppose it says Fed tax withheld is x$ and State Tax is y$ do you get back x+y or a percentage of it?

1/23/2009 8:20:46 AM

Quote :

"I'm still waiting on 1 of my W-2s. But I don't expect much back this year since I have to pay inheritance tax on that fucking dump up north"

yep, tax it when your daddy earns the money, tax it when he buys the house, tax it every year, then tax it when he gives it to you

1/23/2009 8:55:09 AM

Man I started trying to get the paper work together....

Between the two of us we have 6 W-2 and 2 W-9s. We have received 1 so far.

I have a feeling this will be a messy year =(.

1/23/2009 12:37:58 PM

No W2 for me either.

1/23/2009 12:41:19 PM

i should have signed up to get an eW-2

i'd have it by now

1/23/2009 12:42:01 PM

My work promised mine on the last freaking day =/

I really wanted to get on it to see how last year will pan out.

1/23/2009 12:44:45 PM

you can guess using your last pay stub, right?

1/23/2009 12:49:26 PM

^Yea it's also good to double check the numbers. On one of my wife's w2, her Fed. Income withholding was $1, but her paystub said otherwise.

[Edited on January 23, 2009 at 12:53 PM. Reason : ]

1/23/2009 12:52:23 PM

Just did mine, lets see how quickly i can get this refund.

1/23/2009 8:58:47 PM

i haven't even gotten my double you two

I'm Big Business and i approved this message.

[Edited on January 23, 2009 at 9:00 PM. Reason : actually it probably went to my parent's house]

1/23/2009 9:00:19 PM

You know you gotta buy something awesome for those sweet kitties of yours!

1/23/2009 9:04:46 PM

double post!

[Edited on January 23, 2009 at 9:05 PM. Reason : ]

1/23/2009 9:04:46 PM

Quote :

"$7,643. woot."

I hope you realize the first-time homebuyers credit is not a rebate and has to be paid back...

1/23/2009 9:05:03 PM

luls

1/23/2009 9:50:54 PM

^^ How does that work?

1/23/2009 9:51:38 PM

Quote :

"Does the credit have to be paid back to the government? If so, what are the payback provisions? Yes, the tax credit must be repaid. Home buyers will be required to repay the credit to the government, without interest, over 15 years or when they sell the house, if there is sufficient capital gain from the sale. For example, a home buyer claiming a $7,500 credit would repay the credit at $500 per year. The home owner does not have to begin making repayments on the credit until two years after the credit is claimed. So if the tax credit is claimed on the 2008 tax return, a $500 payment is not due until the 2010 tax return is filed. If the home owner sold the home, then the remaining credit amount would be due from the profit on the home sale. If there was insufficient profit, then the remaining credit payback would be forgiven. "

http://www.federalhousingtaxcredit.com/faq.php#16

1/23/2009 9:55:47 PM

http://www.mymoneyblog.com/archives/2008/08/7500-tax-credit-for-first-time-home-buyers.html

1/23/2009 9:56:43 PM

Quote :

"Hooray for the first-time homebuyers credit. "

hmm... too bad i closed before that date... oh well... all a big government lie anyways

1/23/2009 10:28:18 PM

Quote :

"april 9, 2008 and before July 1, 2009."

1/23/2009 10:30:09 PM

^^^ An 7500 dolla interest free loan for a 15 year period? And no payment for 2 years? That's a lot of help.

Don't be jealous.

1/23/2009 10:32:27 PM

my last w2 cut my return in half and now I actually owe the state money.

I'm tempted not to even file it....its only like $3,000

1/27/2009 10:41:53 PM

got all my taxes! woohoo.

2/6/2009 12:33:36 PM

As part of the new stimulus, I heard we may not have to pay back this credit

2/6/2009 3:30:01 PM

I got my $1052 direct-deposited this morning

~

2/6/2009 3:33:18 PM

I got $2k this morning, yay

2/6/2009 3:34:33 PM

i probably wont get shit

2/6/2009 3:38:46 PM

→

2/6/2009 3:39:28 PM