Welcome Guest. Register Now!  


Homeowner Tax Home owner tax issues and rebates.


Poll: Can I qualify for the existing homebuyer tax credit?
Be advised that this is a public poll: other users can see the choice(s) you selected.
Poll Options
Can I qualify for the existing homebuyer tax credit?

Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-05-2010, 09:17 PM
Junior Member
 
Join Date: Feb 2010
Posts: 2
Talking Homebuyers Tax Credit - Can I qualify

I bought a home on December 15, 2009. I had two previous homes in the last 12 years that I owned and lived in. The home that I lived in prior to my recent purchase was from Nov 2005 to early 2008 when I sold it. (I didn't own, or live in it for 5 consecutive years).

The home prior to that I did live in it for 5 consecutive years. However, my understanding of the tax credit is that it has to be 5 consecutive years within the 8 year window prior to my buying my new home. So, the way I understand it, I must have bought a home and lived in it for 5 yrs between Dec 15, 2001 and Dec 15, 2009 (8 yr window).

I bought a home in Feb 1998 and lived in it thru Nov 2005. Although that is more than 5 years, I don't think I qualify for the tax credit because it is outside the 8 yr window. From Dec 15, 2001 thru Nov 2005 when I sold that home, it was less than 5 years.

Am I interpreting this correctly? Please assist me if you can.

Sincerely, Isabella1



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Be Sure to Know Whether You Qualify for the Earned Income Tax Credit Samatg For 2009 0 02-02-2010 10:04 PM
Do I qualify for the First Time Homeowner Tax Credit? mhobbs Homeowner Tax 1 02-13-2009 11:50 PM
Changes to the First time homebuyers credit bejcunni Income 3 01-30-2009 12:28 PM
Purchasers of GM Hybrids Still Qualify for Tax Credit Samatg Tax News 0 02-08-2007 07:05 PM
Ford Hybrids Still Qualify for Tax Credit Samatg Tax News 0 02-01-2007 04:28 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning