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First time home buyer tax Credits
Why should I pay back when other do not
Hello, many may think that this subject is trivial, however I wonder if I am the only one to think this way? My husband and I purchased our first home in 2008 and opted not to take the take credit of $7500 due to having to pay back the credit. However only months after we purchased our home a new credit of $8000 emerged that does not have to be repayed to the government and now another of $6500 that again does not have to be repaid. I am sure that we are not the only family that did not accept the $7500 tax credit due to the repayment plan. I wonder what is the difference between 2008 and 2009 and why it is that only 2008 home buyers must repay their first time home-buyer tax credit? I do agree with the tax credit it would be wonderful to be able to take that money and place it into our home. Again my only question with this is....Why must 2008 homebuyers pay back the credit they are eligible for however 2009,2010 do not thank you
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