Taxpayer has purchased a new home. He would satisfy all the requirements for long-time homebuyer credit with this possible exception. He lived in his previous home 5 years but of the 5 years, the first two were under a lease-option agreement and then the purchase was made. Does he still qualify? I haven't seen the lease-option agreement and don't know if he even has it.
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Lease option for long-time homebuyer credit
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