The first time home buyer tax credit is bringing up a lot of questions of repayment this year, so the IRS took notice and has created a look up tool to assist buyers who received the tax credit in the past.
Home buyers thinking of selling or renting a home that they received the first time homebuyer tax credit on and those who bought homes in 2008 (and received the original tax credit which is repayable in fifteen annual installments) should gather their Social Security number, date of birth, and complete address before visiting the First Time Homebuyer Tax Credit Lookup Tool. If you file a joint return, you may only access your portion of the credit, so keep that in mind.
If you’d like more information on the Lookup Tool, please visit the IRS information page.
image courtesy of Muffet