Long time resident house credit

[sdtaxman]

Taxpayer's house burned down in February 2010 and he received insurance proceeds for it. He then moved in a redi-built home on a new foundation for his new house. He had moved into the house by the end of April 2010. Would he be eligible to claim the $6,500 tax credit on this house? I think he should be able to but can not find any support for or against it. Thank you for any advise you can give.

[solomon]

Taxpayer's house burned down in February 2010 and he received insurance proceeds for it. He then moved in a redi-built home on a new foundation for his new house. He had moved into the house by the end of April 2010. Would he be eligible to claim the $6,500 tax credit on this house? I think he should be able to but can not find any support for or against it. Thank you for any advise you can give.

If the taxpayer meets the following requirement, then yes. Loss of the previous home is moot.

§36(c)(6)

In the case of an individual (and, if married, such individual’s spouse) who has owned and used the same residence as such individual’s principal residence for any 5-consecutive-year period during the 8-year period ending on the date of the purchase of a subsequent principal residence, such individual shall be treated as a first-time homebuyer for purposes of this section with respect to the purchase of such subsequent residence.