If you purchase your first home in 2009, can you claim your $7,500 tax credit with your 2008 return?

You can claim the $7,500 first-time homebuyer tax credit on your 2008 return if you purchase your home prior to filing your return. For example, if you purchase your first home on March 1st, and you file your taxes on April 15th, you'll receive the tax credit with your 2008 tax return.

For more information, you'll find this brief description of the tax credit on the DaneCountyMarket buying real estate page helpful. These FAQ documents from the National Association of Realtors and the National Association of Home Builders provide an additional level of detail.