Heard a new twist on the above from an accountant friend I have breakfast with once in a while. He said he’s been advising clients and filing/amending tax returns claiming the first time homebuyer credit BEFORE people have actually purchased a home. In other words client is PLANNING on purchasing a home before the 12/1/09 cutoff but has NOT actually bought it. He claims this is a great way to get money in a potential buyers pocket in advance of the purchase. Here’s the IRS explanation of the credit.
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