take a pass on the tax credit?

[tesa]

as some of you may know, we jumped off grid last april

after some thought, research, and running numbers daniel and i have decided to take a pass on the tax credit
we are due for our PV system

i think, just maby, at some point, the government is gonna want that money back

i hear, and i could be wrong, that the first time home buyer credit will have to be repaid

i was chatting with a lady at the library, and she mentioned that her daughter's CPA told her that

anyway, regardless, i think i'll pass on the governments "helping hand"

we didn't start this crazy adventure for the credit anyway, it would have been nice, a few extra pennies in the old bank
account, but  i still think i'll pass

thanks anyway

tesa

[MountainDon]

i hear, and i could be wrong, that the first time home buyer credit will have to be repaid

The old first time home buyer tax credit of $7500 had pay back strings attached. That was written into it right from the git go and should not have been a surprise to anyone. It was basically an interest free loan. There are no pay back strings attached to the present tax credits for home buyers ($8000 and $6500 maximums).

No pay back strings on the current solar energy credits either. I know there are some others that share your view, however I'm not one of them. No strings other than those that apply to qualifying on the other energy related tax credits either.

[tesa]

well, the humber wasn't as big as we thought anyway, we would only get a few hundred back,

i still don't trust the man, i'm very skeptical

thanks for the info

tesa

[archimedes]

You do have to repay the homebuyer tax credit if the home ceases to be your primary residence within the first three years of ownership.

[MountainDon]

As someone who has lived in the same home for 25 years I guess I didn't worry about that string.    And the home before that was 13 years.      Not a big deal to many.