The only home I have ever owned is a rental property in North Carolina. Do I qualify for Home Tax credit?
November 12th, 2010 | by admin |We live in Virginia but bought a rental property in NC in 2007 hoping to move there at sone point. We have never lived there and has been rented out since the purchase. Now we would like to buy a house in VA to live in. Do we qualify for the Home buyer tax credit? If so is it for the first time home buyer or for repeat buyers? Thanks in advance.
NOT for either.
You currently own property. You are NOT selling it and buying another. Plus the time to buy, to put in offer, has expired.
www.irs.gov form 5405 instructions
FTHBC
2 Responses to “The only home I have ever owned is a rental property in North Carolina. Do I qualify for Home Tax credit?”
By Wayne Z on Nov 12, 2010 | Reply
The home buyer credits have now expired.
The deadline that is probably being extended is for those people that were under contract to buy a home by 4/30 and could not close by 6/30.
References :
By chatsplas on Nov 12, 2010 | Reply
NOT for either.
You currently own property. You are NOT selling it and buying another. Plus the time to buy, to put in offer, has expired.
http://www.irs.gov form 5405 instructions
FTHBC
References :
real estate investor