Duplex and Homebuyer Credit

[quicksam]

Have a client who is buying a duplex to live in. He is going to rent the other side out. He meets all other qualifications of the First Time Credit.

I do not believe the duplex qualifies him, but wanting to make sure that I have not missed anything.

Any thoughts?

Thanks

[MLINDER42]

Duplex And Home Buyer

If he lives in half the duplex than I would take half the purchase price and figure the rebate on that figure.That would be his first time buyer's credit.

[S T]

Would be nice

if the information we have specifically states, however, if your t/p meets all of the other requirements, I do believe t/p would qualify for the FTHBC based on his % of the personal residence of the duplex.

https://Q. I purchased a home that q...details.<br />

See also Test #3 here at the TB http://www.thetaxbook.com/forums/sho...highlight=test

Sandy