South Jersey Nesties
Dear Community,

Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.

If you have questions about this, please email help@theknot.com.

Thank you.

Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.

Tax Return

For those of you who bought a house in 2008 be prepared for a nice surprise coming your way.  The accountant just called me and told me we are getting a HUGE return because of the house.  I almost dropped the phone and cried when he told me how much.  I needed some good news after the shitty day I've had.
Warning No formatter is installed for the format bbhtml

Re: Tax Return

  • Yes it is 8,000 I believe, but you need to pay it back? I thought it was a loan that had no interest?
  • It's 7500 and you have to pay it back from your taxes for the next 15 years. $500.00 each year.  However if you bought it 2009 you get 8000 and dont' have to pay it back.  I shall leave my opinion on this out.
  • Blah!  We bought our home in 2007 so all this just aggrivates me
  • I could do without the repayment but I'm pretty stoked.
    Warning No formatter is installed for the format bbhtml
  • Not counting the tax credit that needs to be repayed H and I are getting less together than I got alone last year. :( We bought a house and were married in 2008.
  • I'm jealous of everyone that bought a house this or last year.  I didn't get squat when I bought our place in 2006.  H and I are looking to move, but we have to sell our place, so more likely than not we're not going to get the $8k tax credit.

    The $7500 that needs to be repayed is still a really good deal.  Congrats on an awesome tax return!

  • Izzy, I'm pretty sure you only get the $8K back as a first-time home buyer, so if you've owned previously, you won't get it. There are also salary caps - like, my sister and her fiancee are buying very soon (putting in their offer today), but won't qualify for the $8K because they're above the income.

    We're getting the $7500! Can't wait to tackle our bathroom, kitchen cabinets, and windows! I'm going to be taking lots of before, during, and after pics!

  • I think I knew that, but temporarily forgot. My short term memory has gone to crap...
Sign In or Register to comment.
Choose Another Board
Search Boards