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first time home buyer credit procedure

Level 3

Please help!  I have a new client who purchased a house in January of 2021, is first time home buyer and stated he should be getting a credit for that, can you navigate me thru the process, i have no clue what to ask him and i can not find any form on pro series basic to help me.  Sure do appreciate your time

7 Comments 7
Level 4

must of heard it at the barbershop 

Level 15

That’s an easy one.  You just need to find a slightly used DeLorean and a flux capacitor so you travel back about 14 years to when the credit existed.

Slava Ukraini!
Level 5

His "info" may have come from using the first time homebuyer exception to be able to pull retirement funds to use at closing and avoid the 10% penalty.   [As fredr and IRMN stated that is not the credit from 2008/2009]

Level 15
Level 15

Might be a state thing, nothing like that for federal since 2008.  I think it was proposed, but nothing ever passed.

Level 9
Level 9

@Just-Lisa-Now- Nothing like that since 2008????  How about the federal credits available in 2009 and 2010?

Level 3

2009 that was the credit with 9,000 with no repayment.  the 2008 was only 8,000 and repayable.  At least for most its almost done.

Level 11

The only thing that I am aware of that they could be talking about, is the "Mortgage Interest Credit Certificate" apparently still available in some states.


Form 8396 is the form. I have only had one client use it (about 10 years ago) and it is currently not available in my state of  Washington. I am not fully up on all the background, but it is somehow sponsored /  participated in by various state housing programs.