First time home buyer tax credit

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • AccTaxMan
    Senior Member
    • Apr 2007
    • 346
    #1

    First time home buyer tax credit

    Taxpayer bought a multi-units rental property in Feb 06 and lived in one of the units until Jan 07.

    Then he moved out and the unit that he occupied was rented out. So the whole property became a rental property in Jan 07.

    In Oct 08, he bought a single family house for his own home. Does he qualify for the fist time home buyer tax credit?
    Tags: None
    • solomon
      Senior Member
      • Aug 2006
      • 1012
      #2
      He had a principal residence within the prior three years. Seems that would disqualify him. Had he not lived in one of the units, then he would have qualified. At any rate, that is my take on it.

        Comment

        Previous template Next

        Disclaimer

        Collapse

        This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

        Working...