Does anyone out there work at H&R Block or at any other tax service company or is a CPA??? Or know someone I could email and ask a question?? I just have 1 question I need answered before we send in our taxes. I have tried to find the answer everywhere and I just can’t seem to get a straight answer from anyone.
If we received the $7500 1st time home buyer tax credit on our 2008 tax return but sold the house in 2009, what do we need to do for our 2009 taxes? How do we go about paying it back? Do we have to pay it back? Does the repayment depend if there was a profit or loss on the sale of your home?
Any insight would be beyond greatly appreciated!!
Please email me at firstname.lastname@example.org