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Poll: Can I qualify for the existing homebuyer tax credit?
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Can I qualify for the existing homebuyer tax credit?

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Old 02-05-2010, 09:17 PM
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Join Date: Feb 2010
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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



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