Offer Expired on April 30, 2010--This page will be updated if there are any other changes!

How to Get the $8,000 First-Time Home Buyer Tax Credit,

and NOW,

if you have been in your home for three years, Qualify for $6500 tax credit!!

You've decided to purchase a home in Destin or anywhere on the Emerald Coast, you can take advantage of the 2009 First-Time Home Buyer Tax Credit. Here's what you have to do to get your benefit:

Deciding When to Apply the Credit

If you want the benefits of your credit as soon as possible: 

You might choose to file under your 2008 tax year. Since April 15 has already passed, you would have to file an amendment to your return. However, if you've already filed for an extension of your 2008 return, then you can simply claim the credit when you submit your return. 

If you anticipate a drop in income next year: 

You can wait to claim the credit as part of your 2009 filing. In some cases the value of the credit might be higher, particularly if in 2008 you qualify for only a partial credit because your income is over $75,000 (single) or $150,000 (joint).

 Your Next Steps

Once you have determined which year to apply the tax credit, you will need to do two things to claim the credit:

1. Fill out Form 5405 to determine the amount of your available credit, and
2. File an amended return for your 2008 taxes, or wait and apply to credit when you file your 2009 tax return.

   Determining Your Home Buyer Tax Credit Amount: Form 5405
   
   
   Applying the Home Buyer Tax Credit to Your 2009 Tax Return