Quantcast
Home / Opinion Digests / First-time homebuyer IRS credit is not dischargeable (access required)

First-time homebuyer IRS credit is not dischargeable (access required)

A $7,500 first-time homebuyer credit that is recaptured by the IRS over the next 15 years is a tax that is not dischargeable in bankruptcy. Background The debtor purchased a home with his mother and his sister in 2008. In his income tax return for that year, he claimed a first-time homebuyer credit of $7,500. The debtor ...