“I bought a home and utilized the 2008 First Time Home Buyer Tax Credit, do I need to repay this credit now that I am selling my home?”
This question is starting to come up more and more, so I wanted to share an important link to the IRS’ explanation of repayment of any tax credit.
I recommend consulting your tax professional about your specific situation, however in reading over link, you may find the answer you are looking for.
http://www.irs.gov/taxtopics/tc611.html
Questions? Write me and we can discuss further.