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02-13-2011, 11:59 AM #1
Renter
- Join Date
- Feb 2010
- Posts
- 3
Tax Filing Time. Do I still qualify for First Time Homebuyers of $8000
I posted my first topic a year ago with explination that I was going into a short sale P&S.
Basically, in February of 2010, I made an offer on a Short Sale. The process was time consuming but in the end, my fiance and I ended up owning the house. At the time, the previous owners accepted our offer and we signed a P&S. Then, they presented the offer to the bank(s) involved and in the middle of June, we finalized and signed the HUD settlement form.
After viewing the IRS website, I'm still skeptical if we qualify. IRS says we qaulify if we were in a binding contract made before April 2010 and closed by September 2010. Is the P&S considered a binding contract? To qualify, IRS wants the HUD-1 settlement form which depicts a closing of June, 2010. Do they need to also see the P&S signed in February?
Thanks
-
If the HUD-1 form depicts the correct settlement date (according to the IRS), then you should be okay. Check with your CPA or Financial Adviser.
Tax Credits....sigh.........
Either way, they're going to get you. I know, it sucks.
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