Taxpayers that purchased an eligible single family residence located in Georgia in 2009 may qualify to carry forward the unused portion of the credit (if any) to the current return. The credit must have been claimed in 2009 to claim the carry forward credit.
An eligible single family residence is:
- A single-family structure occupied for residential purposes
- Any residence that was for sale before May 11, 2009 and that was still for sale after May 11, 2009
- A Residence that was owned by the mortgagor due to foreclosure
- An Owner- occupied residence where the owner was in default on or prior to March 1, 2009
The credit is allowed for a purchase of one eligible residence between June 1, 2009 and November 30, 2009. The credit amount is 1.2% of the purchase or $1,800 - whichever is less. The amount of the credit that may be claimed and allowed in a single tax year is the lesser of 1/3 of the credit or the taxpayer's income tax liability amount. Unused credits can be carried forward.
To carry forward the unused portion of the credit, go to the
- State Section
- Credits from IND CR
- Eligible Single-Family Residence Tax Credit