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Richard, Tax Attorney
Category: Tax
Satisfied Customers: 53664
Experience:  29 years of experience as a tax, real estate, and business attorney.
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if someone bought a new house in march of 2010 and had lived

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if someone bought a new house in march of 2010 and had lived in thier home that they still own since Aug 2005, would they qualify for the repeat home buyer credit?
Submitted: 5 years ago.
Category: Tax
Expert:  Richard replied 5 years ago.

Hi there. Yes. Long-time homeowners who buy a replacement home after Nov. 6, 2009, or in early 2010 (and March 2010 qualifies) can also qualify. To qualify as a long-time resident, you must have owned and used the same home as your principal residence for at least five consecutive years of the eight-year period ending on the date you by your new principal residence.



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Customer: replied 5 years ago.
so to qlarify, the dates are from Aug 2005 (old)- Mar 2010(new),qualifies for the credit.
Expert:  Richard replied 5 years ago.

Oh, I'm so sorry...I did not see the August that case they would not qualify because they did not satisfy the 5 year requirement!

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