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$8,000 First Time Home Buyer's Tax Credit Question

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    $8,000 First Time Home Buyer's Tax Credit Question

    I should be getting it in the mail within the next month or so. I need a new car, but would simply like to use the $8,000 check to pay cash for a used F150. Will this be acceptable to the Trustee? My current car is crap and might as well be driving tri-cycle to work everyday.

    #2
    Is that how the home rebate works? It's an actual check for $8000? Purchasing a car cash will work as long as it is with in your states exemption guidlines.
    9/22/2009 - officially filed chapter 7
    11/03/2009 - scheduled 341 - COMPLETED
    01/04/2010 - last day for objections
    01/11/2010 - DISCHARGED & CLOSED

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      #3
      It's not a rebate it's a tax credit and it will be included with what ever you get in a return.
      Chapter 7 07/30/2008
      341 09/17/2008
      Discharge 11/21/2008

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        #4
        If you can exempt the truck, you're fine.
        Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

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          #5
          if you are in the middle of bankruptcy, depending which state you are in, it's kind of hard to exempt $8,000. if you have not filed yet, then you can use the refund to something that is needed. if you have filed and did not exempt part of the 8000, it belongs to the trustee

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