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Does the $8000 for first time home buyers have to be paid back?
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- Genuine GuidanceLv 71 decade agoFavorite Answer
Only if you sell or rent it out within the first 3 years.
After 3 years, you are home free!
- Anonymous1 decade ago
When you applied for the $8000 credit, you agreed to live in the home as your main home for at least 3 years.
if you fail to do so, it's to be paid back.
- acermillLv 71 decade ago
No, this refund need not be repaid. However, it IS considered taxable income for the year in which you receive it.
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