Posted on: 26th Oct, 2009 08:17 pm
if my wife an i have a loan for a mobil home do we qualify for the $8000 tax credit??
Hi bid,
If you own the mobile home free and clear, you can qualify for the tax credit. However, you must not have owned a primary residence within the last 3 years. The home must also have been purchased on or after Jan. 1, 2009 and before Dec. 1, 2009.
If you own the mobile home free and clear, you can qualify for the tax credit. However, you must not have owned a primary residence within the last 3 years. The home must also have been purchased on or after Jan. 1, 2009 and before Dec. 1, 2009.
As of right now, you can't get the $8K first-time buyers tax credit until you have closed on the house - you then file either an amended tax return for 2008 or wait till your 2009 tax return to claim it.
what we don't know here is when the mobile home was purchased. if you bought this home sometime this year, bid 63, then you can claim the tax credit of up to 10% of the price of the home, with $8000 being the maximum. you do not have to own the home free and clear in order to obtain a credit - you can have a loan.
the key is that you cannot have owned a home in the last 3 years. if that's you, then go ahead and claim it.
the key is that you cannot have owned a home in the last 3 years. if that's you, then go ahead and claim it.
