you probably would not have to provide anything, unless you get audited. And then my guess is you will need your C.O.

Are you building yourself or do you have a builder? If you have a builder, you would have to close on the final loan before 12/1 I believe. If you are building yourself, than your "first occupying date" qualifies you if before 12/1. Can you get a CO before 12/1? You won't like my answer, but you can probably claim it and hope you don't get audited, but it would be tax evasion and fraudulent, IMHO.

From what I've heard, they are going to continue with the Tax Credit next year. They may even be making it easier to qualify for it/be able to use it up front when purchasing a home for closing costs.

I know it's a risk, but I'm pretty sure that they will continue the program - and if it were me, I would rather wait than to try and skirt the system and worry that big brother was going to find out. :)

We claimed it b/c we've moved in already. We do not have a CO, those are not issued here plus we're doing all the finish work ourselves. We are just now closing on the mortgage, but we moved in the end of Jan. Yes, the bank is well aware that we already live here. No proof had to be provided with our tax papers. I'm guessing if we had to have proof, we could just show when the change of address took place.

I can't imagine that actually moving in by December 1st, and then claiming the tax credit is "fraudulent". I'll be doing just what congress intended: building a house and stimulating the economy. If the IRS wants to take me to Court, I'll beat them.

But I do hope Ofealia is correct and they extend the credit.

Interesting. I am in the same dilemma. The certificate of occupancy is the gold standard for when the home would be finished, but you can bet that if the IRS were to start slamming self building folks with penalties because their home was not quite finished by a certain date, Congress would change the law pronto.

BTW, I've heard that the $8K credit is going to be increased to $15K.

Some currentproposals:

A Senate bill to expand the tax credit to $15,000 for any home buyer regardless of income was introduced this month by Sen. Johnny Isakson, R-Ga. It is co-sponsored by Senate Banking Committee Chairman Chris Dodd, D-Conn.

"It would go a long way toward inducing trade-up buyers into the market," says Lawrence Yun, chief economist at the NAR.

ÂA House bill to keep the $8,000 credit in place until June 2010 and expand it to all home buyers was introduced last month by Rep. Kenny Marchant, R-Texas. It also would provide a $3,000 credit to homeowners who refinance.

ÂAnother bill in the House, introduced by Rep. Eddie Bernice Johnson, D-Texas, would extend the credit to all home buyers through 2010.

The Business Roundtable, a consortium of CEOs from large companies, urged Congress this month to expand the tax credit to $15,000 and make all home buyers eligible.

"The issue is how do we stimulate the move-up market, and that's essential for the economy," says Richard Smith, CEO of Realogy, the parent company of Century 21, Coldwell Banker, Sotheby's International Realty and ERA.

"I think it's going to be a bipartisan effort," Smith says. "The issue is how to pay for it."

The current tax credit does not apply to singles earning more than $95,000 a year and couples who earn more than $170,000. Some business leaders want the income caps eliminated.

Buyers do not have to repay the tax credit if they occupy the home for three years or more.

"A lot of people are taking advantage of it," says David Thomas, a Realtor in Washington, D.C., who adds that expanding the credit would boost the market. "That would be a fantastic idea, to enhance and expand the incentives."

Here is a link that might be useful: law proposals