Home Buyer's Amount

[Christine K]

1)I am a first time home buyer, do I need to enter anything here: "Enter the portion of the home buyers's amount for the purchase of a qualifying home not exceeding 5,000$"

2)Can I claim OEPTC?

[Geo123]

Hello Christine K,

(1.) first-time home buyers' tax credit

To claim the first-time home buyers' tax credit, please follow the steps below:

1- On the "Left side menu on the Interview tab", select "Other deductions and credits".

2- On the page appearing on the right, scroll to the group "Other credits" and click on the plus sign "+" icon located on the right of the line " Home buyers' amount for the purchase of a qualifying home (Federal, Quebec)".

3- On the page that appears, on the line "Are you eligible to claim the home buyers' amount and/or the Quebec first-time home buyer's tax credit? ".

4- If you answer "Yes", you must choose whether you share your amount according to the four choices.

5- If you choose "Claim specified amount", you must enter the amount claimed by your spouse and your amount. If the co-owner is not your spouse, leave the field blank.

This credit can be claimed in whole or in part by you or your spouse.

Please note that if the new home is co-owned by someone other than your spouse, you must also enter the information in the other person's file.

The program will generate the Home buyer's amount at line 31270 of the federal return.

For more information, consult the following link:

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-369-home-buyers-amount.html

(2.) ON BEN

.On the page that appears entitled "Ontario Trillium Benefit (OTB)", you must answer the questions on this page;

If you are requesting a credit, a section titled "Declaration of information about the principal residence" will appear with the words "Click here". Perform this operation, you return to the "Ontario tax credits" section, choose the "ON-BEN Declaration (s)" group, select one or the options that corresponds to your situation. Enter your information.