Fthb

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  • Earl
    Senior Member
    • Mar 2006
    • 249

    #1

    Fthb

    If client purchased home prior to May 1, 2010 deadline but did not move in until Novmber will they still be eligible for the credit.

    She upgraded the electrical supply and plumbing and it took that long before she could get a contractor to complete the work.

    All I read about is for new construction the purchase date is same as date moved in. Do you feel that making repairs over this long a period would be considered the same as new construction.

    Cites if possible.
  • Earl
    Senior Member
    • Mar 2006
    • 249

    #2
    Fthb

    Kicking up. Does anybody have opinion.

    Comment

    • appelman
      Senior Member
      • Jan 2010
      • 1195

      #3
      The rules don't actually talk about when you start living in it.

      But it has to be considered your main home. I would think you would have a little wiggle room here, but I'd also like to hear other opinions.
      Evan Appelman, EA

      Comment

      • Earl
        Senior Member
        • Mar 2006
        • 249

        #4
        Fthb

        Found what I needed at this site. See Item S8.

        Comment

        • luke
          Senior Member
          • Dec 2008
          • 437

          #5
          So

          the answer is YES they would qualify for fthb credit!

          Comment

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