Homeowner buyer tax credit I recently bought a home on Dec, 15, 2009. I am trying to determine whether I qualify for the existing homeowner tax credit.
Although I owned two homes in the last 12 years, Neither of them were owned by me for five consecutive years during the 8 year window as outlined by the IRS. My last home I owned for two years between Nov 1995 and early 1998. The home prior was owned by me in early 1998 thru Nov 2005.
The way I understand it, I must have owned the same home for 5 consecutive years during the 8 yr window preceding the date of my home purchase in 2009.
So does that mean that I have had to own one home between Dec 15, 2001 and Dec 15, 2009? The home I owned in early 1998 thru Nov 2005 was longer than five years, but part of the ownership falls outside of the 8 year window, as I understand it.
The second home between Nov 2005 and early 2008 was less than 5 consecutive years.
Can you assist, and tell me if there is any way that I can claim the homeowners credit? |