Posted on: 21st Oct, 2013 09:00 pm
I am in Austin, Texas and got my MCC through the city housing authority when I bought my town home in 2007. It has really been a blessing. 2013 will be the last year I can claim the credit as I got married and our combined income will now exceed the credit limits. My husband and I are considering buying a new home in 2014 and keeping the current townhouse as a rental. The research I found says that if it is no longer my primary residence, then the MCC will be revoked. However, I cannot find any information about any fees associated with the revocation as there are with the recapture tax with the sale of a home. I am grateful for any guidance.
Hi Brianne!
Welcome to the forums!
I will have to agree with you. Even I have not found any information regarding the fees after revocation of MCC.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
I will have to agree with you. Even I have not found any information regarding the fees after revocation of MCC.
Feel free to ask if you've further queries.
Sussane