All Forum Posts by: Guevara M.

I just got off the phone with my CPA & she said that I do qualify for the $8000 tax credit.

Now what to do with it!

That is what I was thinking. It was always used as a rental. I've asked a few different CPA's & they all were not 100% sure if I could or not. I'm going to make some more calls today to try & find out.

Thanks!!!

Anyone have any idea?

I'm sure this has been talked about many of times already. It's about the first time home buyers $8000 tax credit.

I just closed on my house last month & really want that $8000 but I bought a small condo back in 2003 & I'm still paying on it. I have never lived in it. I use it as rental property only.

This was taken from the U.S. Master Tax Guide.

"Eligibility. A first-time homebuyer is an individual (and, if married, their spouse) who had no present ownership interest in a principal residence in the prior three-year period ending on the date of the home purchase."

I found this with a quick google search.

principle residence is the same thing as primary residence per: http://www.businessdictionary.com/de...residence.html

So since my primary residence has been a small apartment & not the condo will I qualify for the $8000???

That's what I was thinking. Thanks!

I thought that I would qualify for this since I am buying my primary house this year but found out that I don't. I bought a small townhome about 5 years ago & since it's in my name they said that I won't get the $8000.00. I have never lived in it. I only lease it out. I thought that since it's not my primary home that I would still qualify, but I was wrong. Does this sound right? I have heard mixed things.

I just don't want to buy something & regret it. I think that the smaller new custom home will be better for me since it will be built the way I want it.

How much house should I be looking for?

Would you rather have a new home custom built that is smaller or a older home that is larger. I'm single with no kids but I want a 3/2/2 home. For instance I can get a custom home built that is about 1400sq/ft or a older home that is about 1800sq/ft for the same price. This is the builder that I am looking at. I heard nothing but very good things about him.

http://erasmocantuconstruction.com/company.asp