Homebuyer Credit for Rental investor

[BHoffman]

I have a young client who bought a house and has never resided there. It has always been a rental property. He has always rented an apartment as his residence.

He bought a house for his primary residence within the time allowed for the credit and otherwise is eligible.

[BP.]

I have a young client who bought a house and has never resided there. It has always been a rental property. He has always rented an apartment as his residence.

He bought a house for his primary residence within the time allowed for the credit and otherwise is eligible.

From this site:

http://www.federalhousingtaxcredit.com/faq.php

“Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.”

[BHoffman]

You are the BEST! Thanks BP!