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Posted by Chris Ruehrwein on September 3, 2008, 10:54 am
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Can the first time home buyer tax credit of 7500 be used for a Condo?
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Posted by DF2 on September 3, 2008, 11:08 am
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In misc.taxes.moderated, Chris Ruehrwein wrote:
>Can the first time home buyer tax credit of 7500 be used for a Condo?
Yes, but it is still not an actual credit. It's a 0-interest loan.
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<< The foregoing was not intended or written to be used, >>
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<< that may be imposed upon the taxpayer. >>
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Posted by Chris Ruehrwein on September 3, 2008, 11:40 am
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Can it be used for Multi family home?
> In misc.taxes.moderated, Chris Ruehrwein wrote:
>
>>Can the first time home buyer tax credit of 7500 be used for a Condo?
>
> Yes, but it is still not an actual credit. It's a 0-interest loan.
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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Harlan Lunsford on September 3, 2008, 12:02 pm
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DF2 wrote:
> In misc.taxes.moderated, Chris Ruehrwein wrote:
>
>> Can the first time home buyer tax credit of 7500 be used for a Condo?
>
> Yes, but it is still not an actual credit. It's a 0-interest loan.
>
Why don't we say "it depends"?
If the condo is a second residence, then the answer is no. It's only
for the principal residence of a first time home buyer, defined as
someone who hasn't owned a principal residence in the last three years.
ChEAr$,
Harlan Lunsford, EA n LA
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<< The foregoing was not intended or written to be used, >>
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