Posted on: 28th Apr, 2009 12:03 pm
I purchased a house about 3 years ago and its still in my name and im looking to purchase another house in my name will i be considered a 1st time buyer again? Thanks for all replys.
To be considered a First Time Home Buyer, you must not have owned a home for 3 years prior. Considering you purchased within the last 3 years and still hold that home, you will not be considered a first time home buyer.
Thsi will clear your question.
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Yes since you have owned less then 3 years ago im pretty sure you will not be able to qualify but it wouldnt hurt to try and call a tax advisor or IRS and ask them personally and find out.
Hi
If you had already purchased house 3 years ago and the title is still in your name, there's no way you can claim the first time buyer credit.
If you had already purchased house 3 years ago and the title is still in your name, there's no way you can claim the first time buyer credit.
The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.