Apply Your Tax Credit to Your 2009 Taxes on Your 2010 Purchase

Yes! You can buy today and apply the tax credit to your 2009 taxes and get a faster return on your initiative.

The deadline for purchasing a home and receiving a tax credit is to have purchased between November 7, 2009 and April 30, 2010 or have a legally binding contract by April 30 and close no later than July 1, 2010.

To apply to your 2009 taxes you must fill out form 5405 to determine the amount of your available credit, apply the credit when you file your 2009 tax return and attach the documentation of your purchase (the settlement statement -HUD.)

Remember, you must live in your home for 3 years or more to avoid having to pay back the tax credit.

Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.