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 |