First-Time Homebuyer Definition
- Again, the credit is for first-time homebuyers only.
- A homebuyer who owned another primary home at any time during the
three years prior to the date of purchase is not eligible for the tax credit.
- For example, if a person purchases a home on January 1, 2009 and has not owned,
or had an ownership interest in, another home at any time from January 1, 2005 through
January 1, 2009, he or she is eligible for the tax credit, even if the new home is not
the person’s “first” home purchase.
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