Homebuyer Credit for Rental investor

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  • BHoffman
    Senior Member
    • Feb 2008
    • 1768
    #1

    Homebuyer Credit for Rental investor

    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.
    Tags: None
    • BP.
      Senior Member
      • Oct 2005
      • 1750
      #2
      Originally posted by 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.
      From this site:

      First-Time Home Buyer Tax Credit Website
      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.”

        Comment

        • BHoffman
          Senior Member
          • Feb 2008
          • 1768
          #3
          You are the BEST! Thanks BP!

            Comment

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