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1st time home buyer credit and bankruptcy

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silverflash

Junior Member
What is the name of your state (only U.S. law)? North Carolina

I filed bankruptcy in early 2006. At the time I owned a home. I had owned that home since 1999. At the time of filing, I chose to let the home go into foreclosure. I filed paperwork for bankruptcy in april 2006. My bankruptcy was discharged in August 2006 and the home mentioned above was listed as a liability in my creditors list. The home was set to go to auction in september but i found a buyer for the home. The home was sold in october of 2006. I walked away with $800 after paying back payments/interest/creditor attorney fees etc....

While I was in bankruptcy, I rented an apartment. I moved in, May 10th 2006. I did this because I knew my credit rating would tank once the bureaus caught up with my bk filing etc and I needed a place to stay. I at that point, changed my home address to the apartment. That was may 2006.

A few years have passed since and my financial situation had improved (divorce done etc). I chose to buy a new home after my 3rd year at the apartment. I closed on the house april 29th 2009.

My question is do I qualify for the 1st time home buyers tax credit?

If not, why not specifically?

If so, why?

thanks!!
 


FlyingRon

Senior Member
You missed qualifying. You had to have been without ownership for three years. You bought six months too early to qualify. The three year test runs from the date of sale to the date of purchase.
 

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