• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Repeat Home Buyer Tax Credit Question

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

pistol22pete

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

I want to know if there is a way for me to get the $6500 new repeat homebuyer tax credit based on my situation. We have owned and lived in a townhome from 10/04-12/08 (4 years 2 months). We have since rented the townhome from 1/09-12/09 and temporarily moved to my inlaws so they could help take care of our newborn. We do not pay rent at the inlaws and we have not filed any 2009 taxes stating we have reted the townhome obviously since we have not filed 2009 taxes yet. Is there a way we can not claim the rental on our 2009 taxes so we can get the $6500 tax credit if we buy a home here soon? We would need to show that we have stayed in the townhome for 5 years. The 2008 taxes were filed from the inlaws house though. Would that be a problem? Couldn't we say that we just wanted the returns to come to the inlaws address and that we didn't live there? Please help. :confused:
 


FlyingRon

Senior Member
Claiming it on taxes is not the operative word. It has to be your principal residence for five years out of the past eight. If you move back for ten months (and the stimulus doesn't run out before then) then you will qualify for the credit. We can not advise you to lie or otherwise commit crimes on this board.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top