HV Ken Posted February 11, 2010 Report Posted February 11, 2010 Has anyone figured out how to begin paying back the 2008 $7,500 First Time Home Buyer Credit (that is, Loan) that is supposed to be repaid over 15 years ($7500 / 15 years = $500 / year) ? The only spot I can find on Form 5405 page 2 seems to be if you sold the home. What about the simple case of beginning the annual repayment ? Thanks! Quote
HV Ken Posted February 11, 2010 Author Report Posted February 11, 2010 Never mind - the credit (aka loan) does not start to be repaid until tax year 2010. "The recapture period is the 15-year period beginning with the second year following the year of purchase (Code Sec. 36(f))." Quote
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