Juan and Celina are married, file a joint return, and have AGI of $148,000. On April 1,
Question:
a. If they sold their home on March 20, 2013 for $128,000, how does this affect the first-time homebuyer credit?
b. How would your answer change if they had purchased the home on April 15, 2008 (claiming the credit on their 2008 return) and sold their home on April 15, 2013 for $128,000?
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a Juan and Celina must repay the entire 8000 credit which is less ...View the full answer
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Related Book For 
Taxation For Decision Makers 2014
ISBN: 9781118654545
6th Edition
Authors: Shirley Dennis Escoffier, Karen Fortin
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