Can i get the $8000 tax credit?

[veryh2o]

What is the name of your state (only U.S. law)? CA

Hi,

I got my first house this september, and it's a fixer so now i am fixing it. I am planning to rent it out once every repair is done.

I do not live in the USA. I work overseas. possible for me to get the $8000 tax credit?

Thanks,

Shan

[efflandt]

In order to qualify or keep the money it would have to be your "main" home (the one you live in most) for the next 3 years. Not sure how you could pull that off if you work overseas (non-resident aliens do not qualify) If within 3 years after purchase it was no longer your main home (for example you rent it out), you would be required to give the money back.

Details are on IRS Form 5405.

[veryh2o]

Originally Posted by efflandt

In order to qualify or keep the money it would have to be your "main" home (the one you live in most) for the next 3 years. Not sure how you could pull that off if you work overseas (non-resident aliens do not qualify) If within 3 years after purchase it was no longer your main home (for example you rent it out), you would be required to give the money back.

Details are on IRS Form 5405.

Yeah, technically i live at my "Primary" home the most when i am in USA.

I am an US citizen.

Someone knows if i am qualify for the $8000 credit?

Shan

[FlyingRon]

Sorry, it doesn't work that way. Main home means where you live most of the time. You do not qualify if you live abroad. I suspect you're already taking advantage of the income exclusion for living abroad and that's going to be a dead give away on the abuse of the credit.

[veryh2o]

Ok, guess no tax credit for me... that sucks... thanks anyway.