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First Time Home Buyer -($8,000) Required Time to Hold Before Selling?

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    First Time Home Buyer -($8,000) Required Time to Hold Before Selling?

    Client purchased a home and claimed the FTHB of $8,000. She now wants to sell. What is the time restriction as to how amount of time she needs to hold it without having to pay some back?

    #2
    When was it purchased?

    You would need to know when the home was purchased, then read The Tax Book page 11-11 for your answer.

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      #3
      Purchased 10/30/09

      Originally posted by rtsietsema View Post
      You would need to know when the home was purchased, then read The Tax Book page 11-11 for your answer.
      Purchased October 30, 2009.

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        #4
        Originally posted by zeros View Post
        Purchased October 30, 2009.
        Qualified 2009 homebuyers do not have to repay the credit provided the home remains their main home for 36 months after the purchase date.

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