The Survival Podcast Forum

Finance and Economics => The Money Board => Topic started by: creativem2 on January 27, 2010, 11:51:25 AM

Title: FHA Tax Credit
Post by: creativem2 on January 27, 2010, 11:51:25 AM
So I purchased a house in 2009 and I'm eligible for the 8,000 tax credit.  The house does need a little bit of work but I'm not planning on dumping all of that money into the house.  Here are my ideas, let me know what you think.  If anyone else is getting the credit, how do you plan on spending/saving it?

1. Take about 1k and buy silver.
2. Put about 4k into savings.
3. Keep 1k in cash on hand.
4. Use the rest on the house.
Title: Re: FHA Tax Credit
Post by: lovebug6133 on January 27, 2010, 12:43:37 PM
We're getting the 8K also, don't know what we're going to do with it yet, but if you hadn't heard yet, they won't let us e-file.

Everyone that qualifies for the credit (that wants to claim it) has to file paper copies with backup and the time lag is long.................

http://www.irs.gov/newsroom/article/0,,id=204671,00.html?portlet=7 (http://www.irs.gov/newsroom/article/0,,id=204671,00.html?portlet=7)