First Time Home Buyer

Judy · #1 (**permalink**) 02-10-2009, 08:54 PM

I didnt see a specific spot for this so I will use Misc. I owned a single wide mobile home in a mobile home park. No land, not on a foundation or a permanent structure. Trailer has been paid for , for about 7 years now. I purchased in May of 2008 a home with land on a permanent foundation. Do I qualifiy to take the $7,500 First time home buyer credit on my taxes this year?

TaxGuru · #2 (**permalink**) 02-10-2009, 11:17 PM

The IRS has included a broad range of eligible homes that would qualify for this tax credit, and these are as follows:

1. Single-family detached homes.

2. Attached homes like townhouses and condominiums.

3. Manufactured homes (also known as mobile homes).
The good news is that I think your mobile home would qualify!

4. Houseboats.

Judy · #3 (**permalink**) 02-11-2009, 08:53 AM

I don't believe I explained this well.
1. I OWNED a mobile home, it was in a mobile home park, I paid lot rent, but it was not on a foundation or a permanent structure. I SOLD it in June 2008.

2. In May of 2008 I purchased a home with land.

3. Because I owned the trailer and lived in it, does that disqualify me from taking the first time homebuyer credit on my taxes for the NEW home that I bought in May 2008?

Maybe that will explain it better. Not wondering about the trailer, but the new home, since I owned the trailer before.

TaxGuru · #4 (**permalink**) 02-11-2009, 12:42 PM

I see, this would be like purchasing another mobile home! Based on this, and the intent of the law, it would seem that you would not qualify for the First Time Home Buyer Credit!

The reason being that the ownership of the previous Mobile Home would be considered a previously owned home. Thus, the newly purchased home unfortunately, would not qualify you for the First Time Home Buyer Credit!