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Ask Merlo Your Own Question
Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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We purchased our first home . We live in Mass. & rent here

Customer Question

We purchased our first home . We live in Mass. & rent here . We purchased our home in Florida. The intent is to travel to our home every other month and evenully retire there in 5 years. Can we get the tax credit ($8000) ?
Submitted: 7 years ago.
Category: Tax
Expert:  Merlo replied 7 years ago.

Hello JA Guest,


In order to qualify for the first time homebuyer credit, the home that you purchase must be used as your primary residence for a full 36 months after the purchase date. If you intend to keep your residence in MA and only travel to the FL home every other month, that home would not be considered a primary residence and would not qualify for the credit.


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Thank you JA Guest