Can You Take the Homebuyer Credit?

Here’s another interesting article I found with some common questions about the home buyer tax credit. This is a big issue and is coming to an end at the end of April where you have to have a home under contract and close by June. Otherwise, no credit for you.

Also to get the $6500 repeat buyer credit you must have lived in your main residence 5 of the last 8 years. For the $8,000 new homebuyer credit you CAN’T have had an ownership interest in a home in the last 3 years. So if you owned after April of 2007 you’re out of luck for this credit.

Homebuyer Questions? IRS Answers

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Tagged as: home buyer tax credit, homebuyer credit, new home buyer, repeat homebuyer