Who Qualifies for New Homebuyer Tax Credit?

Posted by: Prashant Gopal on November 6, 2009

Update: Just spoke with somebody at Sen. Chris Dodd’s office. According to the senator’s banking committee staff, you can qualify for the credit even if you signed a purchase contract before today’s date. The important thing is that you close on the home between today and June 30, 2010 (Your contract must be signed by April 30, 2010). Keep the questions coming, I’ll try to answer as many as I can.


Dozens of you have written in with good questions about the tax credit. I’m working on finding answers, especially to one recurring question. To qualify for the $6,500 credit is it necessary to sign the purchase contract after the measure is signed into law today or can a homeowner who closes on a home after today also meet the requirements? I’ve asked the White House to clarify.

In the meantime, I just received a press release from CMPS Institute, a training, examination, certification and ongoing membership program for financial professionals who provide mortgage and real estate equity advice.

It clarifies a few things. Read on.

More Homebuyers Qualify for Tax Credit

Ann Arbor, MI November 6, 2009 – Congress just passed an expanded version of the $8,000 first time home buyer tax credit that was set to expire on November 30. “The new version of the tax credit has the potential to stimulate the housing market even more than the old version due to the fact that more people will qualify under the new rules,” said Gibran Nicholas, Chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. “Although the tax credit remains at $8,000 for home buyers that have not owned a primary residence in the last three years, it has been expanded to include a $6,500 tax credit for home buyers that have lived in their current primary residence for at least five consecutive years out of the past eight years. Under the old rules, move-up home buyers did not qualify.” Consider these three examples:

Example 1:
Jane purchased a home in 2002, lived there for 5 years as her primary home, moved out in 2007, and turned that home into a rental property. If Jane decides to buy a new primary residence today, she would qualify for the $6,500 tax credit based on the fact that she lived in the same residence as her primary home for at least five consecutive years out of the past eight.

Example 2:
Harry purchased a home in 2004, and lived there for the past 5 years as his primary home. If Harry decides to buy a new primary residence today, he would qualify for the $6,500 tax credit based on the fact that he lived in the same residence as his primary home for at least five consecutive years out of the past eight.

Example 3:
Nicole purchased a home in 2006, and lived there for the past 3 years as her primary home. If Nicole decides to buy a new primary residence today, she would not qualify for the $6,500 tax credit based on the fact that she did not live in the same residence as her primary home for at least five consecutive years out of the past eight.

The tax credit applies to homes purchased for less than $800,000 before May 1, 2010. “If you sign a binding contract to purchase a home before May 1st, you would need to close on the transaction before July 1, 2010,” Nicholas said. “It works kind of like a gift certificate that can be redeemed for cash. You simply file a form with the IRS right after you buy your home, and the IRS will send you a check for the full amount of your credit.”

The income limitation for single tax payers went up from $75,000 under the old rules to $125,000 under the new rules. For married tax payers, the income limitation went up from $150,000 to $225,000. “This means that more people will qualify for the credit – especially in parts of the country with higher costs of living,” Nicholas said. “This should help stimulate parts of the housing market that may not have been impacted by the old version of the credit.”

There are many creative ways of structuring your home purchase transaction in ways that maximize the benefits of the credit. Here are a few examples:
· The credit applies to 1-4 unit homes as long as you live in one of the units as your primary residence – you could live in one unit and rent out the others
· If two unmarried individuals buy a home, and only one of the individuals qualifies for the credit based on their income or past home ownership status, the individual who qualifies for the credit can claim the full credit. (Note: In the case of married couples, both spouses must qualify for the credit.)
· The credit applies even if you have co-signers on your mortgage loan

Reader Comments

Rex

November 6, 2009 11:47 AM

Yes this is the big question. From reading the amendment, it seems to me that it should be enacted today. (if signed today) and anyone closing a house after today would get the 6,500. I don't see how a purchase agreement has anything to do with it and I don't think the IRS will be looking at stacks of contracts for dates signed. Purchased means closed. Just because you sign an offer to buy, you have not purchased anything. This is my take and I am a real estate broker.

Lou M. Brawley

November 6, 2009 12:25 PM

Great posting. Easy for buyers to understand.

Thank you,
Lou M Brawley,
Broker Associate

mike

November 6, 2009 12:36 PM

for the extended home buyer tax credit, what is the time frame to buy a new home? does it start at Dec 1, 2008 like the original tax credit?

N

November 6, 2009 12:43 PM

I have a question. We already sold our home last June 2009 and are contracting the building of our new home ourselves ~ which is in progress now. We plan to close on our loan either December 09 or Janauary 2010. Do we qualify?

Jim

November 6, 2009 12:43 PM

Is purchasing a lot for a future home qualify?

imaj79

November 6, 2009 12:45 PM

We have lived in our current home for more than 5 years, but have officially "owned" it for 4 years. Would we qualify?

Drew

November 6, 2009 12:46 PM

We closed on Mon. Nov 2 in the evening!!!!&*$^@#%^&%^#!!!!!!!

Mike

November 6, 2009 1:06 PM

We are purchasing a new house and qualify for the step-up home credit for most conditions. Due to an abnormal income in tax year 2009, we would not qualify due to income limits. With this expanded law, can you still apply the credit towards an amended 2008 return, or should we delay escrow to 2010?

Jan

November 6, 2009 1:06 PM

I'm wondering the same thing as Mike. Does this apply to homes purchased after Dec. 1, 2008 or Dec. 1, 2009? My daughter sold her home of 7 years and bought a new home in the summer of 2009. Does she qualify for this $6,500 credit?

Dan

November 6, 2009 1:12 PM

Jim, purchasing a lot does not qulify. Unless you have it built and completed prior to the deadlines.

Tiff

November 6, 2009 1:12 PM

As of December 28th, my husband has owned his home for 5 years. We plan to sell/close on his home on December 7th. Do we have to wait and close on the 28th, to be eligible for the tax credit? Or can we close "anytime" in December to be eligible? Thanks

Matt

November 6, 2009 1:13 PM

The article states that the $6500 credit is for "home buyers that have lived in their current primary residence for at least five consecutive years out of the past eight years." If this does in fact apply only to their CURRENT residence, how does Example 1 qualify?

Stephanie

November 6, 2009 1:15 PM

Still looking on clarification whether you have to close on or after 1 Dec or anytime after the bill is signed by the President. Thanks!

STEVEN NICHOLS

November 6, 2009 1:32 PM

I sold my home last year, was in it for 15 years, currently renting (couldnt find what we were looking for)...if I purchase between December 1 and April 30....do I qualify for the $6500 Tax credit....???

Jean

November 6, 2009 1:41 PM

Do you have to take out a mortgage to qualify for the "new" credit? I hope to sell our current home and close on a new home using cash.

Jean

November 6, 2009 1:41 PM

Do you have to take out a mortgage to qualify for the "new" credit? I hope to sell our current home and close on a new home using cash.

nancy

November 6, 2009 1:44 PM

How about this scenario. I purchased my home in 1999,my domestic partner moved in with me in 2002. We refinanced together in march 2008 and a quit claim deed was filed putting her name on the deed. The house was sold in august of 2009 and she purchased her new home in september. My name is not on the mortgage or deed. Is she eligible for any tax credit for either home?

nancy

November 6, 2009 1:44 PM

How about this scenario. I purchased my home in 1999,my domestic partner moved in with me in 2002. We refinanced together in march 2008 and a quit claim deed was filed putting her name on the deed. The house was sold in august of 2009 and she purchased her new home in september. My name is not on the mortgage or deed. Is she eligible for any tax credit for either home?

Jimmy

November 6, 2009 1:44 PM

We have lived our current primary residence since 1999, will we still qualify the $6500 credit if you buy another house for renting out in coming months?

Thanks!

Marie

November 6, 2009 1:47 PM

Could someone PLEASE clarify whether you have to close on or after 1 Dec or anytime after the bill is signed by the President. Thanks!

kuei

November 6, 2009 1:50 PM

Who qualifies? People who have jobs. Who has jobs in america? People selling foreign made products.

Maranda

November 6, 2009 1:57 PM

What about those of us who bought a new home over the summer months of 2009, but meet all the requirements for the step up buyer....do we get nothing for stimulating the economy???

Anna Livingstone

November 6, 2009 2:02 PM

I bought my home 7 years ago and have lived in it ever since. I got engaged in 2004 at which time my finace moved in with me. We got married early 2005. So I have lived in my house for 7+ years and my husband has lived there for 5+ years (of which 4.5 years as a married couple). We are bying a new home together. Do we qualify for the 6500 credit? Thank you very much.

lllttt

November 6, 2009 2:14 PM

Matt

Current home owner does not mean you own a home right now;
Also, not home owner right now
does not mean you are a first time buyer.
First time buyer does not mean you never bought a house.

Here, the term current home owner and first time buyer has special meaning. Refer to the IRS code.

Kim

November 6, 2009 2:20 PM

We bought our house in June 2004 and relocated to another state and rented out that house in 1/09. We just bought a house in Sept. 2009. Do we qualify for $6500 credit?

Lee

November 6, 2009 2:31 PM

We closed on our current home around May 15, 2004 - so we're just shy of 5 consecutive years, but from a calendar year perspective we meet the 5 year limit. Do we qualify for the $6,500 credit if we purchase a second house in the next few months?

Mark

November 6, 2009 2:34 PM

I Purchased a house a little over a month ago and did not qualify for the first credit because we owned (lived in for more than 5 years). Will their be a retro period for the new $6,500 credit or will I get hosed again???

FED UP

November 6, 2009 2:35 PM

Does America really have money to burn on people with equity and profit from the homes? Stop wasting my taxes on this

Team Gray

November 6, 2009 2:36 PM

Marie,
According to the National Association of Realtors, the closing date must be after the date of enactment, which should be today.

Lindsey

November 6, 2009 2:36 PM

I bought my first ever primary home in Feb. 2009. for $1,010,000. I was not quilify for $8000 credit since my income was just over the limit then. Am i eligible under new bill since the income limit has gone higher?

Khoi

November 6, 2009 2:37 PM

What if an existing homeowner, who lives in his current primary residence for at least five consecutive years out of the past eight years, buys a second home to rent out, will he qualify for the $6500 credit on the second house?

Hong

November 6, 2009 2:44 PM

We bought our current home in November 2005. Do we qualify for the $6500 credit if we buy a house in 2010? Does the first year of ownership (2005) counts towards the 5 year requirement? Thanks.

Julie

November 6, 2009 2:44 PM

Does the purchase require one to not sell their home for 3 years under the new bill?

Amy Scott

November 6, 2009 2:46 PM

I purchased a home in 2006, then added my boyfriend to the title in 2007 not the mortgage. He refianced the home in his name in 2009 but left me on the title. If he didn't claim the intrest this year, would he qualify for the tax credit since he didn't have claimed intrest on a home in the last 5 years? or would he not qualify because he was on the title?

Steve

November 6, 2009 2:56 PM

If I buy the 2nd home but not as a primary residence because I still live in my first house, does that qualify?

Jimbo

November 6, 2009 2:58 PM

My 2009 income as a single is over $75,000 (in fact, over $125,000), but my retirement in early 2010 will result in income under $125,000 for 2010. Will I qualify for the credit if the closing (at least) occurs timely in 2010?

Sumit Kumar

November 6, 2009 3:13 PM

We bought our house in 2008 but did not qualify for the tax credit because we were just outside the income threshold. Now we qualify. Can we re-file 2008 income tax to claim the $8,000 credit?

Michael

November 6, 2009 3:17 PM

I beleive that I qualify for the new $6500 tax credit as I owned and lived in a home from 9/2000 - 2/2008 and am currently renting. (Correct me if I am wrong) My question is this, is the credit truly $6500 or is it a formulated percentage based on the cost of the residence purchased...

Linda

November 6, 2009 3:19 PM

I closed on an FHA loan Dec. 12 2008 after having been a renter. What do I qualify for? Is it only the "loan" of 8000?

Jason

November 6, 2009 3:28 PM

How about this scenario? My girlfriend bought a house is 3/2004. We were married later that year, but I was never on the title. We sold the house this summer, and I (exclusivly in my name) closed on a new one 2 weeks ago. Based on what I'm seeing, we missed the boat on both the $8K and $6500?!?!?!?
Timing's a bitch...

Steve

November 6, 2009 3:29 PM

I sold my main residence in 2007 and I am buying house with another person in 2010, we are not Married and she is a first time buyer. Will she qualify for first time buyer credit and I will qualify for 6500 credit? I don't see anything in the wording of the Bill that precludes this scenario?

Pooch

November 6, 2009 3:31 PM

So I'm screwed, I just closed on my new house last week and i've been in my 1st house for ten years?

Leslie

November 6, 2009 3:34 PM

I have the same question as N. We sold our house in August 2009 and renting a townhome while we have a house built which we should close on February 2010. Do we qualifyf or the tax credit?

Michelle

November 6, 2009 3:45 PM

We owned our previous home for 8 years took a loss on it. Bought it for $125,000 sold it for $119,000. We closed on our new home October 30th!

So we can't get a tax deduction on our old home's loss and we miss out on the $6500 by 7 days!

j

November 6, 2009 4:00 PM

according to the actual bill. You must close after 12/1/2009. Your thoughts?

http://finance.senate.gov/sitepages/leg/LEG%202009/103009_Worker_Homeownership_Business_Assistance_Act.pdf

Cameron

November 6, 2009 4:02 PM

I am wondering the same thing as Mike and Jan. We sold our home of 6.5 yrs this summer, built and closed on our new home in Mid-August 2009. Do we qualify for the extended tax credit?

Meg

November 6, 2009 4:06 PM

I read the bill and it replaces the previous income limits of 75K and 150K to 125K and 225K.. Does that mean that people who have bouyght their homes before today with income limite higher than 75K(150K) would now qualify for the credit as the income rule has been modified?

Any thoughts ? i think yes...

Kathy

November 6, 2009 4:07 PM

I'm buying my mother's house; can I qualify for the tax credit?

Kathy

November 6, 2009 4:07 PM

I'm buying my mother's house; can I qualify for the tax credit?

Joseph Rand

November 6, 2009 4:15 PM

Great post, very helpful. I'm a real estate broker in the NYC metro area, and spent most of yesterday going over the legislation to look at this issue. From the text of the legislation, it seemed to me that anyone who closes on the day after the enactment (i.e., the signing) is eligible, regardless of when they went into contract.

We have about 800 agents, and do about 3,000 transactions a year, so we sent out an advisory yesterday advising all our clients who were closing on Friday to examine the new criteria to see if they were eligible, and to discuss the issue of putting off the closing with their attorney.

http://www.randrealty.com/blog.aspx?postid=1224

It's unfortunate that some people who closed in the last month, and were otherwise eligible, will not get the tax credit, but that's what happens when laws change. First-time home-buyers who closed in December 2008 had the same issue.

DC

November 6, 2009 4:18 PM

I have the same question as Leslie and N. We sold our home Sept. 2008 and have been renting while our new house is being built. We should close on the new home in Dec....Do we qualify?

Jim

November 6, 2009 4:19 PM

I have a lot, and want to build a house on it. If I sign a building contract before April 30 2010, and close before June 30 2010, does that count? I plan on signing a contract soon. Just looking for more clarification on new houses.
Thanks

Donovan C.

November 6, 2009 4:22 PM

We have ordered and put down payment on a brand new doublewide mobile home but have not closed on it yet. We are supposed to close november 10th. We have owned our home for 8 years. Will we qualify for the $6500 or should we wait until december to close?

Lee

November 6, 2009 4:26 PM

what if I sell my 4 BR house for around 230K and buy a 3 BR house for around 200K? If I get $6500 from the government that may make it worthwhile

Kari L.

November 6, 2009 4:26 PM

The eligibility period for the tax credit is for homes purchased after Nov. 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the tax credit provided closing occurs prior to July 1, 2010.

jim

November 6, 2009 4:39 PM

we sold are house at a $15,000.00 loss after 25 years in order for us to down size is this $6,500.00 credit we closed on both homes on september 14 2009 do we qualify for the tax credit is it retroactive from 1/01/2009

Sylvia

November 6, 2009 4:40 PM

Hi. My husband and I are currently living with my parents. The four of us had purchased a home back in 2004 so technically we own a house; therefore, I was told that I don't qualify for the $8,000 credit. So, am I eligible for the $6,500 credit if I decide to move out and buy my own primary residence?

Would I still be eligible for the 6,500 as long as I have lived there for at least 5 consecutive years but longer than 8 years?

Thank you.

Tom

November 6, 2009 4:41 PM

Seems there is quite a bit of confusion on when the "step up" home buyer tax credit takes effect. The National Assoc of Realtors is stating Nov 6th (http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit) but a release from Congressman Courtney of Connecticut, alliteration not intentional, states Dec 1, 2009 ( http://courtney.house.gov/UploadedFiles/HR_3548.pdf ). Seems their is quite a bit of confusion on when the "step up" credit takes effect. If NAR & Congress can't figure it out how are we supposed to? Hopefully they'll get it figured out before I claim it, get audited & then go to jail!

Bill

November 6, 2009 4:52 PM

Will those of us who close today 5 p.m. Pacific Time qualify if the President signs before we close?

connie r

November 6, 2009 4:52 PM

We bought our home and closed on it the end of Sept. Do we quailify for the tax credit?

Beth

November 6, 2009 4:57 PM

Will this be retroactive for long-term homeowners who purchased in 2007 and meet the requirements of living in the primary residence for 5 of the last 8 years? Or, are we just out in the cold because we bought before the economy crashed?

EL

November 6, 2009 5:03 PM

IVE LIVE IN MY HOME SINCE 2002. I JUST PURCHASES ANOTHER HOME IN APRIL 2009. DO I QUALITY FOR THE 6,500

Gary Chin

November 6, 2009 5:10 PM

I purchased and living in our house since May 20 2005. If I purchase a new house before April 30 2010 and close after May 20 2010 and before June 30 2010, will we qualify for having lived in our present house for 5yrs?

Tim

November 6, 2009 5:45 PM

Does the $6500 credit apply if you are selling and buying a less expensive house? We're downsizing our home for almost 6 years and capitalizing on the equity in our house to have a minimal mortgage in a smaller home and wonder if this will apply to us.

meg

November 6, 2009 5:54 PM

I don't see the effective date for the 8000K credit for new income limits in the bill. I feel It would depend on how the tax form is set up for claiming the 8K credit. if it has home purhased on or after 11/6/09 clause only then will it not be retroactive else I think if it is a pure replacement of previous income limits the credit may still be in play,...

cindy

November 6, 2009 6:03 PM

We purchased our home May of 2005 and are selling it and closing on November 20th 2009. We've lived in it for 4 years and 5.5 months so does that mean we would not qualify since we are several months shy of 5 years?

Charlene Stahura

November 6, 2009 6:28 PM

We bought a new home this year and closed July 31st 2009. Are we eligible for the tax credit for this year.

Holly

November 6, 2009 7:05 PM

We bought a home Nov 1, 2004 and sold it March 14, 2009. Would we qualify for the $6500 credit?

Susan

November 6, 2009 7:25 PM

I'm about to make a counter-offer for $800k. To get the credit, can the house be $800k or does it have to be UNDER $800k (ie, $799,999)? I'm reading conficting information.

kc

November 6, 2009 7:40 PM

There is no way that the income limits for first-time should be increased retroactively for any home sales prior to Nov.6; if the $6500 home buyer credit is not also enacted retroactively to Jan 1, 2009.

Donna

November 6, 2009 8:35 PM

We owned and lived in a house from the end of April 2004 to mid April 2009. What is used to calculate the 5 year requirement - exact days? months? We have since been living in an apartment while waiting on a short sale. We are finally scheduled to close mid November. Would we qualify for the $6,500 tax credit?

Anna

November 6, 2009 8:49 PM

they keep saying 'must have been in home at least 5 years'. 5 years from when? when the bill gets signed? we signe papers with the bank dec. 9, 2004. if the bill is passed dec 1, 2009, do we qualify? we are still in the home and it is our first home.

Sherry H.

November 6, 2009 8:53 PM

How can the $6500 credit be applied for if the house is sold without a real estate agent?

Sherry H.

November 6, 2009 9:03 PM

How can the $6500 credit be applied for if the house is sold without a real estate agent?

Karen

November 6, 2009 9:23 PM

I see there's a restriction against buying a home from a "blood" relative. What if the home I'm buying is currently owned by a company my parents own? I'm buying from a company, not an individual, so would that be eligible?

I already have a contract on the new house (which I've been renting for 20 months) and am supposed to close in two weeks. Plus I still own my previous home and have rented it out the last 18 months. I lived there continuously from October 1992 though March 2008, so that's more than 5 years of the past 8 years...ugh.

Help!
And many thanks!

David

November 6, 2009 9:59 PM

God I hate this administration! Another give away of our hard earned tax dollars, that in the long run accomplishes nothing.

Why can't the idiot Barrach just let the free Market take its course and let housing prices drop to their actual true value?

The Government giving people money to buy over priced homes is just crazy!

John

November 6, 2009 10:11 PM

So my wife and I sold our home in August after living there for five years. We are currently looking for a new home, and hope to buy one by year's end. If there is a four month gap between when we sold our home and upgraded to a new one, would we still qualify for the $6,500? Thanks!

M&M

November 6, 2009 11:33 PM

I have lived in my current residence since Sep 2001 then became official owner May 2005 until the present. I am currently in contract to buy a house which is going to close mid Feb 2010. am i eligible for the $6500 tax credit?

Dick

November 7, 2009 1:34 AM

Ask not what this new law or country can do for you but what you can do for your country! What a bunch of poorly educated selfish whiners posting above. No wonder this country is in such bad shape. Thank you Sanke Oil Salesmen of the House and Senate! You really know how to spend our kids and grandkids future away!

Anne

November 7, 2009 7:04 AM

I currently own a home and has been my primary residence for more than 5 years,I will be closing on another residence in late Nov 09 in Florida. I have not been able to sell my current residence yet but when it does sell the new Florida house will become my permanent residence. Do I qualify for the 6500 also what if I rent out the Florida residence as i wait to sell my current residence

JP

November 7, 2009 9:06 AM

For all of your questions, I would sek advice of a tax professional. Not the general public who obviously have questions themselves.

Katie

November 7, 2009 9:37 AM

This is the best article I've found explaining this new credit for current homeowners. We have signed a contract to buy a house and our closing has been pushed back again and again- I guess that may be a good thing now! I am anxious to hear the clarification on closing vs. contract date, and also the effective date of the whole thing- hoping it's not Dec. 1 as I have read other places, we would miss the credit by 2 weeks.

Nick

November 7, 2009 10:50 AM

Please just post a link to the bill!!

mke

November 7, 2009 11:03 AM

This is crap for those of us who wanted to help the economy, sold our exisiting homes that we owned for over 5 years; then we bought homes between jan 2009 - 11/5/2009 and we are not eligible for the 6500 refund/credit.

Everyone please call, email or write to your congressman/woman and senators and hopefully it will be retro to 1/1/2009 or retro 6 months.

Kyle

teemar

November 7, 2009 4:17 PM

I've been renting a condo from my parents. If I buy the condo from them for a legitimate appraised price, will I qualify for the credit? If so, does it matter if they provide seller financing?

Michael

November 7, 2009 4:37 PM

The income limitations that you cite for a single or couple to apply for the credit, is that from earned income (active-gainful employment) or does it include pensions, interest and dividends etc?

chris

November 7, 2009 5:07 PM

Hi, me and my husband purchased our home in June of 2004.It is our primary residents and I wanted to know do we qualify for the tax credit?

aned barraza

November 7, 2009 6:48 PM

have long to kno if I qualify please le me no

Julie

November 7, 2009 8:09 PM

If someone owned a home as their primary residence for 4 years and 363 days (just 2 days shy of the 5 years needed) will they qualify for the 6500 tax credit as a move up buyer should they choose to buy now? Only 2 days shy of the 5 years??? Please let me know. Thank you.

Ben

November 7, 2009 9:02 PM

Lived in home 6 years sold and bought new July 2009. Will I qualify for tax credit of 6500

todd stephens

November 8, 2009 9:58 AM

i haved lived in my house a little over five years is there any thing that i could qualify for to get some free money for upgradeing my house?

Toni Leach

November 8, 2009 10:07 AM

What if I owned one home for 10 years...sold it in 2006...then bought another home in 2006 and sold it in 2007...now renting...but getting ready to close on another home in December of this year...2009. Do I qualify for the 6500 tax credit ?

BOb

November 8, 2009 10:56 AM

Good Afternoon,

My wife and I purchased our home at full appraised value from my mother inlaw . but we don't qualify for the tax credit? How is this fair?

K

November 8, 2009 11:40 AM

HI,
Appreciate if we get this answer as soon as possible. Here is our suitation:-
1. We closed on a new home on Nov 5th.
2. Living in our current home for more than 5 years.
3. We qualify for the income requirement.

Question: Do we get the tax credit for $6,500 ?

Thanks

cathy

November 8, 2009 1:30 PM

Can you purchase a home before selling the home you have owned and lived in for five years and still qualify for the $6500 tax credit? Any time limites for the sale of the first home?

cathy

November 8, 2009 1:30 PM

Can you purchase a home before selling the home you have owned and lived in for five years and still qualify for the $6500 tax credit? Any time limites for the sale of the first home?

Mike

November 8, 2009 6:28 PM

How do I know know when, for tax purposed, I've officially "lived" in my house for 5 years? purchase agreement signed 12/05/2004, or is this based on the first time I payed the mortgage?

Barbara

November 9, 2009 4:43 AM

If we sell our home we have lived in for 25 years and purchase a condo with cash, will we still qualify for the tax credit?

John Steele

November 9, 2009 8:42 AM

Hello,

In January 2010 we will have lived in our home five consecutive years. But it will not really be five years because we closed on the home in Sept of 2005.
Are the years figured fiscally or must you live in the home 5 years to the day?

We bought the home in July 2005

Thank you.

Barb

November 9, 2009 10:08 AM

1. What form do you send to the IRS?
2. Is the $6,500 credit available on purchases made in Nov. after the president signed the bill?

Kri

November 9, 2009 11:24 AM

I purchased my home in Aug 1997. Sold the home in Oct 2007, rented for awhile and then purchased our current home in Apr 2009. Could we qualify since we owned our previous home for 5 out of the last 8 years.

Jami

November 9, 2009 12:27 PM

John
I asked that question on Turbo Tax's website and this is the answer I got:
"If you purchased your home (for example) on June 1, 2005, you would need to own it at least to June 1, 2010."

Judy Prowl

November 9, 2009 12:27 PM

i bought a home in Jan. of 2009 i lived in my previous home for more than five years. do i qualify for the $6,500.00 credit.. or can i apply for the $8,000.00 credit, i got divorce in 2008 and my husband stayed with our primary home, can i qualify at a first time buyer for the home that i purchase as a single person on Jan. 2009. Thanks

judyttexas

November 9, 2009 12:36 PM

I heard the effective date of the Bill is Dec. 1st. Does that mean if I close on my house on Nov. 23rd, I will not be eligible or was I eligible on the day the Bill was signed on Nov. 6th?

e

November 9, 2009 1:22 PM

The tax credit is limited to people earning <125,000/year. On which tax year is this based 2009 or 2010?

Ben

November 9, 2009 2:29 PM

So basically.... I get hosed again. Anyone know of an exception/loop hole here's my situation: Owned a home in Denver for 2 years, wife got a new job in Chicago and we sold the house and moved to Chicago 2 years ago where we rent. We are buying a primary residence in Kansas City closing the end of December. My read of things is we miss out on all tax credits... but since tax code reads like greek thought I'd throw this out to the masses. thanks!

Mark

November 9, 2009 3:12 PM

We lived in our house 15 yrs. Purchased new home in Sept. Of 2009 as primary residence. Do we qualify for the $6,500.
tax credit.

ED LAMBERT

November 9, 2009 6:55 PM

We have lived in our house for the last 6 years but owned it for 4 do we qualify for the 6500 credit
thanks

Steve

November 9, 2009 8:42 PM

My wife and I were married last February (did not live together before getting married), and now face the following situation:

My wife has not owned a home in the last three years, so she qualifies as a First Time Homebuyer. However, because we are married, it appears that we don NOT qualify for this as a married couple. I have owned a condo for over five years, so I qualify as a Long Term Resident Homebuyer. However, because we are just recently married (and have not lived in the house for 5 years together) my wife does not qualify for this. Can we qualify as a married couple for this Long Term Resident Homebuyer credit? Or can she take the First Time credit while I take the Long Term credit?

Jami

November 10, 2009 9:12 AM

ED LAMBERT -
We have lived in ours for 5 years but have only owned it for 4 also. I asked this question on a different forum and this is the answer that I got...

"The wording from the statute is "In the case of an individual (and, if married, such individual's spouse) who has owned and used the same residence as such individual's principal residence for any 5-consecutive-year period . . ."
The word AND sets the requirement that you have to live in AND own it for five years. Owning it for only four years would disqualify you."

c

November 10, 2009 11:10 AM

I sold my house in july 30 and we bought a new home this year and closed July 30 2009. Are we eligible for the tax credit for this year.

Jodi

November 10, 2009 12:06 PM

Thank you for the article. It was helpful. My parents have lived in their primary residence for over 15 years. They are planning on selling it and buying a house my husband and I bought to rent. I read on someones post that they wouldn't qualify for the $6500 tax credit because we are related. Is that true?

t

November 10, 2009 1:05 PM

I have always been a renter.
Is the $8,000 tax credit restricted to primary residence? Do I qualify if I continue to live in the apt. and buy a second home?
thanks.

rob m

November 10, 2009 1:12 PM

I got married in May, my wife had a house she lived in for 3 years but sold it and moved in with me. I have been in my house for 12 years, but refinanced it last year. We live in my house together now. We are in the process of building a house. Do I or we qualify for the $6500 house credit on our new house.

Marc Lindley

November 10, 2009 9:01 PM

We bought our current home in May 2005. Do we qualify for the $6500 credit if we buy a house in 2010? Does the first year of ownership (2005) counts towards the 5 year requirement? Thanks

Marc Lindley

November 10, 2009 9:07 PM

I bought my home in May 2005. Do we qualify for the $6500 credit if we buy a house in 2010? Does the first year of ownership (2005) counts towards the 5 year requirement?

Screwed

November 10, 2009 9:15 PM

I qualify for the $6500 tax credit. My wife qualifies for the $8000 tax credit. But since we will be purchasing a home together for the first time, we don't qualify at all. But on the bright side, my taxes go towards all those that do qualify. How does that make sense?

Trina

November 10, 2009 11:25 PM

I had my last home built. From the date I closed on it to the date I sold it was 28 days short of 5 years. I put a down payment on that house two months prior to closing which puts it over the 5 year mark of "ownership." Would I qualify for the $6500 credit?

Trina

November 10, 2009 11:45 PM

I had my last home built. From the date I closed on it to the date I sold it was 28 days short of 5 years. I put a down payment on that house two months prior to closing which puts it over the 5 year mark of "ownership." Would I qualify for the $6500 credit?

Jeanna

November 11, 2009 4:17 PM

Have owned our home for three years, but rented it for four years before purchasing. Does this qualify us for the $6500 credit?

MACA

November 12, 2009 12:35 AM

Similar question. I owned a home from 2003-2009. We bought a new house in a different state when we relocated.

My brother purchased the home from me on contract (so I maintain title and the mortgage and he has notes payable to me).

Would I qualify for the credit?

Jami

November 12, 2009 11:23 AM

Jeanna -
We have lived in ours for 5 years, but have only owned it for 4, and I was told that we don't qualify.

James

November 12, 2009 3:11 PM

I purchased my house in August of 2004. I Recently got divorced. My name was on the Mortgage of my ex unitl September of 2009 which is five years and 1 month. My issue is that i purchased myself a new home on June of 2009. Do i qualify since my name was on my old home over five years? Please advise.

Thanks

Chris

November 12, 2009 3:37 PM

Do you see anything that will allow those of use that purchased earlier in 2009 any sort of credit? Is there anything in the hopper that would suggest they date this back to January 1? They are not helping those folks out that purchased earlier in the year.

Monica

November 12, 2009 4:17 PM

I have lived in my current house since 2001 - I recently got married and my husband moved into my place. He did not own a home for the past 5 years. Would we qualify for the $6500 if we buy a new home.

Chris

November 12, 2009 4:31 PM

Write your congressman to get this retroactive to the beginning of the year!

dusty

November 13, 2009 3:08 PM

my husband and i purchased our house october 30, 2007..and he is currently on active duty in the army..do we qualify for the new tax credit that was introduced on november 6, 2009?

Verval

November 14, 2009 12:47 AM

I purchased my house on June 06, 2005 and currently living in as my primary residence...if I purchase a new one and get closed before June 06, 2010...will I qualify for the tax credit?

Pat

November 14, 2009 5:15 PM

What is the definition of 5 years? Is it based on months, days? For example, we have been living in the current house from May 15th 2005. Do we have to live in the current house until May 14th 2010 to qualify for the $6500 tax credit?

Bart

November 14, 2009 7:50 PM

I purchased a brokendown home in September 09. It is vacant and has been vacant for years. I have hired a contractor to fix, repair and update it. It will be my perminate residence. I will move in in December 09. Does this house qualify under the construction of a home/move in date requirements.?

Sheri

November 14, 2009 8:26 PM

I closed on a foreclosed home July 2009. Do I qualify for the 6500.00 since Ive only been living in it since then? 4 months to be exact.

Patrick

November 15, 2009 2:01 PM

I just wanted to know if there has changes with FHA loan. Mainly, I want to know if one can have two FHA loans. Sorry if I asked the question at the wrong place, but if you know the answer I would like to know.
Thanks in advance.

chas

November 15, 2009 8:50 PM

My son purchased his first home in Feb 2007. does he qualify for any tax credit espacially the 6500. Where can I find more literature and when do we expct it to be approved finally

chas

November 15, 2009 8:50 PM

My son purchased his first home in Feb 2007. does he qualify for any tax credit espacially the 6500. Where can I find more literature and when do we expct it to be approved finally

londab

November 16, 2009 12:29 PM

? i bought my 1st home in 2002. Sold it in 2008 and bought a new one in 2008! Do I qualify for the 6500??

mary

November 16, 2009 1:25 PM

I BOUGHT A HOUSE IN JULY OF 2008 AFTER LIVING IN MY OLD HOME FOR 30 SOME YEARS. DO I QUALIFY FOR THE $6500.00 STEP UP CREDIT? THANKS

Tim

November 16, 2009 4:33 PM

Hello,

I heard there was a loop hole for a first time home buyer tax credit if the is a husband and wife who purchase a home from a relative ie. the husbands father and uncle, that because the wife is only related by marriage under the previous rules before November 6th, that the wife can actually file her taxes individually claiming the tax credit legally in this manner. Please let me know if this is at all possible, legal, etc... if our closing was complete as of November 5th 2009. I look forward to hearing some comments.

Allison

November 16, 2009 8:26 PM

Two questions:

We purchased our current house in March 2005 and have our house on the market. If it closes prior to March 2010, will we qualify for the $6500?

If we purchase a home for less than we sell our home, do we still qualify?

Ben

November 17, 2009 9:21 PM

I have never owned a home. My girlfriend purchased her home in 2006 and I have lived with her for 3 years. We would like to refinance to include me as co-owner of the property. Would I qualify for the tax credit?

JB

November 18, 2009 8:51 AM

I have owned and lived in my current house since 1998. This summer, I found a house. A foreclosure that needs a lot of work but I closed on it Sept 2009. I am still working on the house but hope to be moved in by December. Do I qualify?
Thanks.

Melissa Cope

November 18, 2009 1:03 PM

We purchased and had closing on our new house on November 6. Since it was signed this day does that mean we qualify? If not, that would be the pits because we woudl have considered waiting a day. (We were previous over five year owners)

Michelle

November 19, 2009 4:02 PM

So your telling me this tax credit is only eligible for the people who bought more than 5 years ago, the whole purpose of this is for those of us who bought in the last 5 years at a ridiculous price and now we aren't entitled to the credit.....what the f----

rw

November 19, 2009 5:22 PM

My husband and I sold our home Sept. 2008, can we still qualify for the $6500.00 tax credit?

Kay Wright

November 20, 2009 1:05 PM

Do you qualify for tax credit if you have been buying a house for 20 years and still owe $27000.00 and don't know how i am going to keep this house now.

Kay Wright

Steven

November 21, 2009 12:07 AM

I've lived in my current home for more than 5 years. Do I qualify for any tax credit if I tear it down and build a new one?

James

November 22, 2009 3:09 PM

I have lived in my home for 5 years. If I buy another home and designate that home as my primary residence do I qualify for the 6500.00 credit?

Steve

November 22, 2009 3:43 PM

What if you are downsizing and buying a less expensive house than what yours sold for? Do you still qualify?

V

November 23, 2009 11:45 AM

I have a question, I co-signed for my parent’s house at least 8 years ago. I never lived in the home and have always rented an apartment of my own. My father pays all the mortgage bills that come directly out of his bank account. I have never claimed the house in my taxes and have always paid for my rent with my checks from my bank account. Will this affect me getting the first time home buyers tax credit?

Dee

November 23, 2009 3:40 PM

I have a question....
In 1996 we built a new home, I lived in that home as my primary residence with my husband. In September 2009 we were divorced. I had signed a temporary quit claim deed to have my name removed from the homes deed in May 2009, only because we were divorcing and he was keeping the home. Then in Sept. when everything was final, my names was removed completely. So will I qualify for this $6500 tax credit when I purchase a home now as long as it is within the allowable time frame? I was concerned because there will be a few months that I do not actually own a home. I'd really appreciate an answer, because I have been told yes I will quality, and I have been told no, I will not qualify.

Michael

November 23, 2009 7:45 PM

I bought a house in Feb. 2009. It was $404,000.00. I live in houston, TX I am married with one child and I make $275K annually. Would I be eligable for any of the tax rebates?

Tom

November 24, 2009 1:37 PM

I closed on my new home on Oct. 29th, I lived in my previous home for six of the last eight years. Since my closing date was before Nov.6th does this mean I don't qualify for the $6,500.

Kim

November 25, 2009 12:30 AM

I lived in a 7,000.00 trailor.I purchased an $ 80,000.00 manufactured home in Feb.2009.I didn't qualify for the 8,000.00 because my address didn't change.I lived in the 8,000.00 trailor for 10 years.Do I qualify for the 6,500.00?

Dena

November 28, 2009 8:01 PM

Okay, here's one for you. I have solely owned my home for the last 10 yrs. And I am still living here as of now, My husband is a first time home buyer. He just closed on Nov, 13. We can't take the $8000 credit. cause I currently own my home. And because this is his first home and never has owned a home. He doesn't get to take the $6500 credit either. Is this right. if so, that doesn't seem fair @ all. We still have a home and We still bought a home, just not together. Two Mortgages with NO credits? PLEASE Correct me PLEASE if I'm wrong....

Dena

November 28, 2009 8:03 PM

We still live here.

Gary

November 28, 2009 10:21 PM

Lots of people wanting a handout. I bought in Vegas 6/01/2006. Our plan was to stay in LA for the balance of the year, save up some cash, then move there. When the market started to turn we stayed in LA at our apartment. We have now built up enough downpayment to purchase a primary residence here. We own a home, I don't get 8K. We haven't lived there 5yrs, I don't get 6500$. I am in the market because I want a home, not a tax break. If it changes my ability to buy a home, I can't afford it. If you were happy when you signed the contract, why aren't you happy now. The Gov't can't nor should make everything equal. Instead of asking for "fair" why not give yourself a pat on the back for being responsible and smart in a down market. I really don't care what the Gov't does for other people, I have the ability to take care of myself.

Susan

December 1, 2009 8:32 AM

Not sure if we qualify----me & my husband bought a home which we made settlement on April 30, 2009--at this time we were in his current home that he had been in for 10 years--we had refinanced it about 1 year earlier--at this time i also currently own a home that i had bought after my divorce and had lived in for about 2 years--my son now rents that from me---the home that we bought was an upgrade home from our current--do we qualify

Susan

December 1, 2009 8:32 AM

Not sure if we qualify----me & my husband bought a home which we made settlement on April 30, 2009--at this time we were in his current home that he had been in for 10 years--we had refinanced it about 1 year earlier--at this time i also currently own a home that i had bought after my divorce and had lived in for about 2 years--my son now rents that from me---the home that we bought was an upgrade home from our current--do we qualify

QbooksCPA

December 1, 2009 3:25 PM

Congress must be proud of all the havoc they've created, as we see from these questions.

Several categories of "screwed" people (sold in '09 too early, or bought one in the last 4 years (not five)...

I had a client ask if they bought the new house but didn't move in (rented back) because they haven't sold their old house yet....

Presumably they could take the credit if they can move in before the 6/30/2010 deadline, but weren't planning to move in until they sell their current home. If they don't manage to sell their old place by the deadline, are THEY screwed? They could move into the new one and rent out the old one, but that doesn't sound like it would be sufficient - they have to actually SELL the old one if I'm reading things correctly.?

Like I said, this is one big mess-pile of a tax law, isn't it?

TLS

December 2, 2009 1:26 PM

Some of these questions are no more than "wishful thinking". The language in the measure is pretty clear. The expanded homebuyers tax credit only applies if you close on a newly purchased PRIMARY residence after the measure was signed the president on 11/6/09 and before 4/30/10. PERIOD. If you closed before 11/6/09 you don't qualify for the $6,500 tax credit. Why is that hard to understand?

c-houston

December 3, 2009 3:36 PM

I built my primary residence in 2002 and sold it in 2008. I lived in the home the entire time. I have rented since but I am getting ready to purchase land and contract to build. Would I qualify for the $6500 tax credit if I contract by 4/30/10 and move in by 6/30/10?

Ben

December 4, 2009 12:14 PM

I have pretty much the same question as C-Houston.
If I have lived in my current house for 5 years, and I own a piece of land, and want to build a house; assuming I get a contract with a builder on or before 4-30, and am living in the house on or before 6-30, can I get the $6500 credit for my construction loan?

Tracy

December 4, 2009 7:05 PM

I sold my primary residence in May of 2006 (that is when title transferred to the new buyer). I am looking to buy a new home as a "New Buyer" and receive the $8K tax credit. I know I have to be in a contract by April and close in July. My question is what is the trigger for the time frame of a 'new buyer' - contract date or close date? From what I can tell it seems like the close date which means I would be fine but I want to be sure. Thanks!

Kam

December 5, 2009 12:48 PM

my situation is this:
I bought a house in Arizona in 2001. I sold that house in November 2007 and moved to Washington state & rented a place to stay. I am now in the process of purchasing a house which has a closing date of December31, 2009.

I lived 5 out of the last 8 years in a house that I owned but not my current residence which is a renatl. Does th $6500 apply to someone like me?

Thanks
Kam

faye weza

December 6, 2009 12:14 AM

If you purchased a home on Oct 28 do you still qualify for the $6500 tax credit

jeff

December 6, 2009 2:14 PM

I lived in my first house for six years,I have been in my new house for three do I qualify?

jeff

December 6, 2009 2:14 PM

I lived in my first house for six years,I have been in my new house for three do I qualify?

jeff

December 6, 2009 2:14 PM

I lived in my first house for six years,I have been in my new house for three do I qualify?

Jared

December 8, 2009 4:59 PM

We are planning on beginning home construction in the spring. Is there a specific date we have to be moved in? If so how do they know? What if I paid cash for it and don't have a mortgage or closing date? I'll have a contract with my builder signed before april. Thanks!

Adam

December 8, 2009 11:26 PM

I owned a home for 4 days and 8 months, and sold it a couple months ago. I am building a new home, but it will not be done until March 2010. I am guessing the timeline, that I would qualify for the 6500 credit, as I do not close until March 2010, so here is my question. I owned my home from 2005 - 2009, so would that count as 5 years? Does the law state I need to own the house for 60 full months or just 5 years? I ask as I did not own it for 60 months, but if measuring in years, I did own it for 5 years and have reported it on taxes for those 5 years.

Lee Ellak

December 10, 2009 11:09 AM

I have been living in an apartment for 5 years. Do I get the $6,500 tax credit? The apartment has been my primary resdience so I was wondering if the primary residence requirement was only for current homeowners.

Ken

December 10, 2009 1:17 PM

My wife and I bought a house in march 2006 and we sold it in may 2009. My wife and I where not married when we bought the house it was under her name and my name. We just bought are new house which we close in Jan 2010. My wife and I are married so would she get the tax credit because she has my last name.

lorenzo j

December 13, 2009 4:56 AM

i have live in my home for one and a half years do i get the 6500

Dean G

December 13, 2009 2:45 PM

Hello,

I wonder if you could answer one detail for me. My wife and I sold a home we had lived in for seven years in June 2007. We closed on a new (new to us but used) residence on October 2 of 2009. Do we qualify for the $6,500 move up credit?

Thanks for your expertise,

Dean

Sanjay

December 13, 2009 11:43 PM

I owned a house and lived there for 10+ Years and I rent it now. I brought a new house in Oct, 2009 and it is my primary residence. Do I qualify for $6,500 tax credit?

Thanks,
Sanjay

AQUI

December 14, 2009 7:59 AM

We have lived our current primary residence since 1999, will we still qualify the $6500 credit if you buy another house for renting out in coming months?

Joel Cate

December 14, 2009 8:10 AM

Hi Prashant,

I bought my house in 1999 with the title in my name only. I was married in 2004 and my wife moved in. We have lived here for the 5 required years. We always file a joint tax return. She has never purchased a home, but our marriage should imply ownership in our current home as it disqualifies her as a first time buyer. My question is: In order to qualify for the repeat tax credit on a new home does the title have to be in my name only, or would a joint title (preferred) be ok?

vicky

December 14, 2009 11:53 AM

what date does the $6500 credit start?
i lived in my old holm for 5 years and bought my secound home in september would i be able to get it and if so how?

meghan

December 14, 2009 4:07 PM

So if I am understanding this right the people that bought a home approximately 4 1/2 years ago and upgraded do not qualify for any of the tax exemptions?

Eric

December 15, 2009 11:59 AM

I'm sure you've heard this questions a thousand times already, but I haven't seen a clear answer yet and am hoping you can help.

My wife bought a condo 6+ years ago before we were even dating. I moved in with her and have lived there myself for 5+ years. I have never been a previous home owner. We got married in the summer of 2009, but we have never added my name to the title. We are looking to purchase a new home now, but we are not sure if we will qualify for the $6500 credit. Are we going to be disqualified for the credit because I have never technically owned a home?

jh

December 16, 2009 12:33 AM

My brother and I bought a house almost 4 yrs ago. I was the primary borrower on the loan and he was the secondary. I moved out recently because I bought a new townhouse this past Oct. 30. He is living there still at the house with his family and trying to refinance the house on his own. Do I qualify for the $6500 tax credit?

JANE

December 16, 2009 8:54 AM

we owned a home for 10 years and sold it (94 to 2004) Bought 2nd home and lived in it for 4 years 2004 to 2008. We rented untill this month and bought this house last week 12/10/09. would we qualify for the tax break. Thanks for your help.

JANE

December 16, 2009 8:54 AM

we owned a home for 10 years and sold it (94 to 2004) Bought 2nd home and lived in it for 4 years 2004 to 2008. We rented untill this month and bought this house last week 12/10/09. would we qualify for the tax break. Thanks for your help.

Lianne

December 16, 2009 12:39 PM

We closed on a 2nd home in Feb. 09 and haven't sold our primary residence yet and are just finishing getting the new home ready to move into. Do we qualify? Does our primary residence have to be sold too before we qualify? Where do we get teh IRS form? Waht is the form #? We are Married, lived here 14 yrs and make under $125000 adj. gross inc (or is it net under $225k ?) Thanks!

kevin manning

December 18, 2009 5:01 PM

I will have lived in my residence for five years in August 2010. Will I qualify?
Thank you,
Kevin L. Manning

jane north

December 18, 2009 8:10 PM

We closed on a home in Jan 2009 and sold our house and closed on it in Feb 2009.We lived in that house for 17 yrs. our annual gross income is 75,000.00 yearly.do we qualify for the 6500.00 home buyer tax credit. please let me no Thanks Jane North

cindy

December 18, 2009 11:00 PM

I will be in my house 5 years in January 28,2010. Do I qualify for the 6,500 tax credit

Amber

December 19, 2009 10:58 AM

If I qualify for the tax credit, can I use it as a down payment on the home?

Bobby

December 20, 2009 5:53 PM

I am an Active Duty Marine. My family and I purchased a home in August of 2002. We lived there for about 1 1/2 years until we recieved orders to Okinawa, Japan. We moved to Okinawa Japan and resided in Military Quarters for the next five years, all the while maintaining our house. After 5 years in Japan, we recieved orders again to Virginia. Upon arrival, we bought a house, with a closing date of 22 October and still own the other house. Since we maintained the first home for at least the past 5 years and subsequently purchase another home, do we qualify for the $6500 tax credit?

Tim

December 21, 2009 8:35 AM

These programs are fine and dandy...except, these aren't gift certificates; it's taypayer's money that the liberal government is tossing around like food sample handouts at Costco. Many, many Americans will be back in the same predicament with the continued unemployment and house devaluation...while these programs SEEM good, because on an individual basis, who wouldn't want to get $8k or 6.5k??? However, it's only tightening the noose of control the government will have on our everyday lives. The democrats have so mismanaged money that it's actually money you're getting, that's borrowed from China, and we'll be paying interest on it...until they print more, debasing the dollar....Merry Christmas!

Brandon

December 21, 2009 5:26 PM

I bought a family members house and closed on it Dec. 10... would I qualify for the 6500 tax credit??

Rich

December 22, 2009 9:36 AM

How about this scenario. Couple owns primary residence for 5 of the last 8 years. Getting divorced, one spouse buying new home. Do they get half the credit? Does the wording state they have to "Sell" their old home or just "Buy" a new home as their primary residence?

George Anna Harris

December 22, 2009 12:11 PM

I sold my home in May 2008. I lived in it from 11/99 until 5/08. I am currently having a home built and should close in January. Will I qualify for the tax credit?

George Anna Harris

December 22, 2009 12:11 PM

I sold my home in May 2008. I lived in it from 11/99 until 5/08. I am currently having a home built and should close in January. Will I qualify for the tax credit?

Claire

December 22, 2009 3:08 PM

I bought a house in May 2009 and sold my house at the same time. I had lived in my original house for 15 years. We meet the income eligibility criteria. Do I miss out on the $6,500 credit because we bought prior to November 2009?

Thanks.
Claire

Danyelle

December 22, 2009 5:30 PM

I purchased a home in Jan 2006. Do I qualify for the tax credit. I am a 1st time home buyer

Vanessa

December 22, 2009 9:17 PM

okay we purchased our 1st house may 2001 and sold it july 2006 then bought another home july 2006 sold it dec 2009. we are now looking for another home, would we qualify for the 6500 tax credit?
thank you

Jim

December 23, 2009 11:07 AM

I am looking to purchaes a home with my girlfriend, but I have just sold my previous home weeks ago. If we do an appliction together and non married individuals, are we/she still eligible for the 8K tax credit becauase she has never owned a home before?

Jill

December 23, 2009 3:30 PM

I sold my house this past July, 2009 and purchased another one in July 2009. I had lived in my old house for 6 years, will I qualify for the 6500 tax credit.

Thanks,

Bama

December 25, 2009 12:19 PM

Is there a stipulation on the number of years you must live in the "new" primary residence? Do you have to pay the government back if you move before another five years pass?

Edward Amber II

December 26, 2009 9:59 AM

We lived our previous home for 25 years and then moved into an apartment while our present home was being built. Do we qualify. Also where do you get the form to send to IRS.

Edward Amber

Nicole

December 27, 2009 2:00 AM

Wondering, like a lot of others, if my purchase date qualifies me. We lived in our first home for 7 years, sold it and bought a new home in July 2009. I havent found a definitive answer anywhere about dates of purchase for the new home. Some say only between Nov 09-April 10. Any info on that? Thanks!

Sharon

December 27, 2009 9:04 PM

Hubby assumed note on home that we lived in together for 10 years; we put a second mortgage on the home, then upgraded in Sept 2009, do we qualify for $6500 credit?

Sharon

December 27, 2009 9:04 PM

Hubby assumed note on home that we lived in together for 10 years; we put a second mortgage on the home, then upgraded in Sept 2009, do we qualify for $6500 credit?

Sharon

December 27, 2009 9:04 PM

Hubby assumed note on home that we lived in together for 10 years; we put a second mortgage on the home, then upgraded in Sept 2009, do we qualify for $6500 credit?

Sharon

December 27, 2009 9:04 PM

Hubby assumed note on home that we lived in together for 10 years; we put a second mortgage on the home, then upgraded in Sept 2009, do we qualify for $6500 credit?

john corrigan

December 28, 2009 12:32 PM

Are there any tax breaks for us unfortunate few that have lived in our current homes for 4 years and are closing this month on a new house?

Dean

December 29, 2009 9:58 PM

I have lived in my current home for the last 6+ yrs. I have only owned it ( bought it from my dad) for the last 2. I am relocating due to my job and have to sell it. When I buy a new home at my new location will I be eligable for the tax credit? Probably not but thought I would ask. I missed the last one too. Thems the breaks I guess.

Dolly

December 30, 2009 11:17 AM

All this makes sense to me but I have a very UNIQUE situation. I just purchased my home last month (Nov. 2009) and I know that I qualify for the tax credit. However, 2 weeks ago, I got a job...100 miles from my house! Of course, this is not a feasible distance to travel everyday so I want to sell my house and immediately purchase another home closer to my new job. Can I do that and still qualify for the tax credit? Does anyone know? I mean, technically, I purchased the first home under the tax credit "season" and I would be purchasing the new home also under the eligible tax credit time frame. Can I do that?

Dolly

December 30, 2009 11:18 AM

All this makes sense to me but I have a very UNIQUE situation. I just purchased my home last month (Nov. 2009) and I know that I qualify for the tax credit. However, 2 weeks ago, I got a job...100 miles from my house! Of course, this is not a feasible distance to travel everyday so I want to sell my house and immediately purchase another home closer to my new job. Can I do that and still qualify for the tax credit? Does anyone know? I mean, technically, I purchased the first home under the tax credit "season" and I would be purchasing the new home also under the eligible tax credit time frame. Can I do that?

Adam

December 30, 2009 1:44 PM

I sold my home in August 2007. I have been renting ever since. I want to purchase a new home soon-do I qualify for either of the tax credits? It seems I'm a few months short for the $8,000 tax credit but I did live in my house for a minimum of 5 of the last 8 years. Do I qualify for the $6,500 credit?

melissa

December 30, 2009 7:09 PM

My husband and I bought a house in Sept 2001, then converted it to rental property for the months October 2008 to April 2009, before we sold it and closed on our new house November 3, 2009. Do we qualify for the $6500.00 credit or did we miss it by 3 days?

Big Ern

December 30, 2009 9:29 PM

Why doen't uncle sam just give everyone who owns a home a one time $6500 tax credit. I could use the extra money for some improvements and pay more than my fair share of taxes.

Dan

December 30, 2009 9:42 PM

I meet my five year mark on April 27th. We have out grown our house and are going to buy a bigger house. Do I have to wait until that day to buy my next house?

Dan

December 30, 2009 9:42 PM

I meet my five year mark on April 27th. We have out grown our house and are going to buy a bigger house. Do I have to wait until that day to buy my next house?

Dan

December 30, 2009 9:42 PM

I meet my five year mark on April 27th. We have out grown our house and are going to buy a bigger house. Do I have to wait until that day to buy my next house?

Sharon

December 30, 2009 10:30 PM

My son in law bought a house in October 2002 and sold it September 2007-would he qualify for the $6500. tax credit if they purchased a house now?? Would have been short a matter of days between 2002 & the sale in 2007.

Sharon

December 30, 2009 10:30 PM

My son in law bought a house in October 2002 and sold it September 2007-would he qualify for the $6500. tax credit if they purchased a house now?? Would have been short a matter of days between 2002 & the sale in 2007.

karen teske

December 31, 2009 2:03 AM

I live in my second home I have every owned, I have lived here for 22 years. Do I qualigy for th 6,500.

karen teske

December 31, 2009 2:03 AM

I live in my second home I have every owned, I have lived here for 22 years. Do I qualigy for th 6,500.

Brian Everhart

January 2, 2010 9:01 AM

I have owned my home 19 years. In 2007 I divorced and was forced to refinance to pay off my ex. I was put in a 5 year fixed that moved into a variable. This was based on 30 year mort.

I'm not refinancing again at 4.6 for 20 years.

Would I qualify for the 6500.00 tax credit?

Thanks

Nick Hitchcock

January 2, 2010 4:08 PM

Financially, I have almost the same question as Brian Everhart. My father and I owned a house for eight years (1/2 and 1/2). It was my primary residence, and an investment for him. In 2009, I decided to re-fi with a cash out to pay him off, and it is still my primary residence. Will I qualify for the $6500? Also, thank you for taking the time to answer so many questions!

Dan R.

January 3, 2010 12:04 AM

I purchased land with a mobile home on it in 2002. In June 2009 we tore it down and put in a brand new modular. We closed on march 25,2009. We were told we would not qualify for the $8000 credit due to the fact that we lived there for 7 years. Will we qualify for the $6500? Or did we fall "in between" the dates?

Ronda

January 3, 2010 3:40 PM

I bought my home in 1992. Do I qualify for the credit? If I don't than this credit is not fair. Anyone who can afford a 1/2 to million dollar home obviously doesn't need the $6500 credit. It is homeowners with a lower income...i am self-employed, who still has a mortgage and no dependants....I am WHO need this credit! So much for the little man..huh..Obama..what about the hope?

Sammy

January 3, 2010 11:25 PM

Why are people leaving questions instead of comments? Kind of weird.

Diane

January 4, 2010 4:10 PM

Can I take the credit if my close papers are dated 10/31/09 (actual close date was 11/2/09)?

Diane

January 4, 2010 4:10 PM

Can I take the credit if my close papers are dated 10/31/09 (actual close date was 11/2/09)?

Theresa

January 4, 2010 5:00 PM

I bought my house in April of 2005. I have lived in the same house since the purchase date. My husband moved in 3 years ago and we got married this past April 2009. His name is not on the mortgage loan and he has never owned a house before. We are looking to move to Springfield and I am wondering if we purchase a house there in February or march of we will qualify for the tax credit and if so would we qualify for the first time home buyers credit or for the $6500 credit? The rules on all of this seem so confusing and are not making sense to me.

Todd

January 4, 2010 7:27 PM

Missing out on Both

I owned a home from Dec 2000 through May of 2007. I sold the house, rented a home until July 2009 and bought another home. I do not qualify for the first time home buyer credit and it looks like i do not qualify for the $6,500 credit. Why is the IRS restricting the $6,500 credit to homeowners who purchased AFTER November 6, 2009?

Todd

January 4, 2010 7:27 PM

Missing out on Both

I owned a home from Dec 2000 through May of 2007. I sold the house, rented a home until July 2009 and bought another home. I do not qualify for the first time home buyer credit and it looks like i do not qualify for the $6,500 credit. Why is the IRS restricting the $6,500 credit to homeowners who purchased AFTER November 6, 2009?

Todd

January 4, 2010 7:27 PM

Missing out on Both

I owned a home from Dec 2000 through May of 2007. I sold the house, rented a home until July 2009 and bought another home. I do not qualify for the first time home buyer credit and it looks like i do not qualify for the $6,500 credit. Why is the IRS restricting the $6,500 credit to homeowners who purchased AFTER November 6, 2009?

Kevin Shipp

January 5, 2010 9:49 AM

I started building my home in Aug, 2004 & officially occupied it in late 2005. Since I started building in 2004 would I qualify for the $6500 credit?

Also does this tax credit apply to someone who is building their home vs. purchasing it from a builder?

Jen

January 5, 2010 1:57 PM

Why is it that when you are married you get screwed. Married people never get help! But if your not married you get everything handed to you! What is this world coming to?

Jen

January 5, 2010 2:05 PM

Why is it that when you are married you get screwed? Us married people never get any kind of help ... we are broke too! What is this world coming to?

jon

January 5, 2010 4:25 PM

We closed on our newly constructed home on Oct. 2 2009 but didn't actually occupy our home untill after Nov 7. 2009. Can we qualify for the $6500 credit still

Jennifer

January 6, 2010 10:00 AM

I have/had a unique situation. I purchased a home in July 2002 but due to some unfortunate circumstances, I got behind & ended up selling in August 2007 to an investor via land contract. I still lived in the home this whole time & was fortunate enough to just buy back my home in December. Do I qualify for the $6500?

Butch

January 6, 2010 11:34 AM

I owned a home in central Missouri from 1997 to April 2004. Moved to SW Missouri and purchased home there in April 2004. Moved back to central Missouri and sold home in SW MO in October 2008. Currently renting. Would I qualify for the $6500 credit if I were to buy a home now? Thanks!

Jason Jones

January 6, 2010 12:38 PM

Does anyone ever answer questions here? Or is this where people come to complain if they don't qualify? Am I wasting my time posting my question here?

Jason Jones

January 6, 2010 12:40 PM

Does anyone ever answer questions here? Or is this where people come to complain if they don't qualify? Am I wasting my time posting my question here?

Rob Graham

January 6, 2010 2:35 PM

Question? I sold a home in Florida July 2008 which was my primary residence for 7 years--I then turned around and purchased a new primary residence that same month. Am I entitled to the $6,500.00--Thanks

don fleming

January 6, 2010 3:05 PM

I have a homebuyer interested in making an offer on a house that is currently rented through Dec. 1 2010. According to the law "the lease goes with the land." Can my person buy and close on June 30 and occupy as soon as legal on Dec. 1 2010?

Or ...because they cannot occupy right away, will they loose their tax credit?

don fleming

January 6, 2010 3:05 PM

I have a homebuyer interested in making an offer on a house that is currently rented through Dec. 1 2010. According to the law "the lease goes with the land." Can my person buy and close on June 30 and occupy as soon as legal on Dec. 1 2010?

Or ...because they cannot occupy right away, will they loose their tax credit?

Becky Gregory

January 6, 2010 4:52 PM

I am a real estate broker in Colorado and have a buyer who has been in his home for 5 years, wants to retain it, buy a condo as his primary residence. Does he qualify for the $6500 tax credit if he does not sell his current residence?

Jeanie

January 6, 2010 8:50 PM

I closed on a home in FL in 9/2009. I have my home in WV on the market, have not sold yet. I lived in this home in WV for 18 years and still live here until I see it; then will move to home in FL. I meet the income requirement. Can I receive the $6,500 credit if I closed in 9/2009?

Jeanie

January 6, 2010 8:53 PM

I closed on a house in FL in 9/2009. I have lived in my home in WV for 18 years and meet the income requirement for the $6,500 tax credit. I have my home in WV on the market, but will not move to my home in FL until I sell it. Even though I closed in 9/2009, am I eligible for the tax credit?

JILL

January 6, 2010 9:01 PM

Pursched home in 2006 only residence do i qualify

JILL

January 6, 2010 9:01 PM

Pursched home in 2006 only residence do i qualify

joe

January 7, 2010 11:52 AM

I purchase a home in July 09 and I sold my other home in september 09, will I be eligible for 6500 tax credit? I live in my first home for over 5 years.

Don

January 7, 2010 2:41 PM

Does this tax credit only apply if you've actually lived in the home for 5 years. Would I qualify if I've owned the home for over 5 years?

Mary

January 7, 2010 3:21 PM

My Daughter purchased her home in November 2005. Is there any way she could qualify for the $6500. tax credit? She wants to move because the Water Co is wanting to purchase her house, but if she has to close on another house before July 1st, if would not be quite 5 years but only 4 years and 5 months. Please let me know about this. Thanks! Mary

Colin

January 7, 2010 3:27 PM

I purchased our house in June 2006 and are living until now, I recently change my job and move to CA and plan to buy a house there. Do I qualify for $6500 due to work changes?

Colin

January 7, 2010 3:27 PM

I purchased our house in June 2006 and are living until now, I recently change my job and move to CA and plan to buy a house there. Do I qualify for $6500 due to work changes?

Kenneth

January 7, 2010 8:28 PM

I purchased my first home in Sept. 2006 and I want to know if I qualify for $6500 tax credit?

tommy

January 7, 2010 10:08 PM

We are in the process of building a house and will close in Feb. We meet every other qualification. Since we are having our own home built by a contractor do we still qualify.

tommy

January 7, 2010 10:08 PM

We are in the process of building a house and will close in Feb. We meet every other qualification. Since we are having our own home built by a contractor do we still qualify.

Steven

January 8, 2010 9:39 AM

My wife and I have lived in our house we own for about 2 years. We are about to start building a new house any day, will we qualify for the 6500 credit or any energy star type credit for building with energy saving materials/appliances?

Shannon

January 8, 2010 11:02 AM

We sold a home in July 2006 that we had lived in since 1994. We purchased a home and closed in July 2009. Would we qualify either of the tax credits?

dipen

January 8, 2010 2:36 PM

I bought my first house in 2000, sold it in 2005. Bought my another primary residence in 2006 and have been living in that house since 2006 ? Am i eligible for $6500 tax credit ?

Kevin

January 9, 2010 10:09 PM

What is the definition of "5 years"? Is it 5 or more years to the day, or just five years.(ex. 2004 - 2009). I bought my house 9/24/2004 and closed the sale on 5/8/2009. Would this still qualify for the $6500. No one I have questioned seems to know the answer. Thanks!

daNIEL lEWIS

January 10, 2010 4:16 PM

I bought my house in 2006 would i get any tax credit.

peter

January 11, 2010 10:07 AM

i was on the deed(did not sign the note on mortgage) to friends property and now i am bying my first home as a primary residence.am i eligible for $8000 tax credit ? and if not, is my wife eligible if she hasnt own any property?

peter

January 11, 2010 10:07 AM

i was on the deed(did not sign the note on mortgage) to friends property and now i am bying my first home as a primary residence.am i eligible for $8000 tax credit ? and if not, is my wife eligible if she hasnt own any property?

peter

January 11, 2010 10:07 AM

i was on the deed(did not sign the note on mortgage) to friends property and now i am bying my first home as a primary residence.am i eligible for $8000 tax credit ? and if not, is my wife eligible if she hasnt own any property?

Cindy

January 11, 2010 4:09 PM

I closed on a home I owned and lived in for 11 years on 11/5/09 and bought new home 11/6/09. Do I qualify for $6500 tax credit?

Ali

January 12, 2010 12:49 AM

I bought my primary residence in August of 2003 and lived there until we sold it in July aof 2009 and then purchased our new home and closed in October - would we qualify for the $6500 ? I can't tell when the effective date is - would I need to have closed on the new house 11/6 or after?

Ali

January 12, 2010 12:51 AM

I bought my primary residence in August of 2003 and lived there until we sold it in July of 2009 and then purchased our new home and closed in October 2009 - would we qualify for the $6500 ? I can't tell when the effective date is - would I need to have closed on the new house 11/6 or after?

Dixie

January 12, 2010 2:44 PM

I understand my husband and I do not qualify for the first-time home buyers since I currently own a home. I bought the home is 1998 and after we were married we never added his name to it. We lived in it together since the end of 2000 but are not currently living in it due to job transfer but we are renting it. We are in the process of buying a home but my husband is the only one on the mortgage. Does he still qualify for the $6500?

detrick

January 13, 2010 6:30 AM

i purchased my house in 03 or 04 and i own it. i am currently receiving s.s.i. i want to purchase a new home. my question is do i qualify for the tax credit or is there any grants for people who receive government income?

Bruce Kinyon

January 13, 2010 9:33 PM

Hello
I was interested in what answer you gave to N for their question as listed below: N
November 6, 2009 12:43 PM
I have a question. We already sold our home last June 2009 and are contracting the building of our new home ourselves ~ which is in progress now. We plan to close on our loan either December 09 or Janauary 2010. Do we qualify?
Thanks for the response.
Bruce

gayle

January 14, 2010 12:55 AM

I lived in my past home for 12 yrs sold it and bought another in 2006 do I qualify for the $6500 tax credit

Bonnie Scribner

January 14, 2010 4:23 AM

We are losing our home because of health issues, job changes, and reduced work due to poor health. We tried a loan mod through an atty, but it was a joke. -$200 for a trial period, but have to resubmit everything again. The lawyer said to give up. We are going to declare BK. We signed a contract the other night for a lovely mobile home that the owner will carry the note on, and we will get it paid off in 5 years. Can we get the $6500 tax credit. We've lived here 7 years without interruption. Please advise.

Bonnie Scribner

January 14, 2010 4:23 AM

We are losing our home because of health issues, job changes, and reduced work due to poor health. We tried a loan mod through an atty, but it was a joke. -$200 for a trial period, but have to resubmit everything again. The lawyer said to give up. We are going to declare BK. We signed a contract the other night for a lovely mobile home that the owner will carry the note on, and we will get it paid off in 5 years. Can we get the $6500 tax credit. We've lived here 7 years without interruption. Please advise.

Bonnie Scribner

January 14, 2010 4:23 AM

We are losing our home because of health issues, job changes, and reduced work due to poor health. We tried a loan mod through an atty, but it was a joke. -$200 for a trial period, but have to resubmit everything again. The lawyer said to give up. We are going to declare BK. We signed a contract the other night for a lovely mobile home that the owner will carry the note on, and we will get it paid off in 5 years. Can we get the $6500 tax credit. We've lived here 7 years without interruption. Please advise.

Bonnie Scribner

January 14, 2010 4:23 AM

We are losing our home because of health issues, job changes, and reduced work due to poor health. We tried a loan mod through an atty, but it was a joke. -$200 for a trial period, but have to resubmit everything again. The lawyer said to give up. We are going to declare BK. We signed a contract the other night for a lovely mobile home that the owner will carry the note on, and we will get it paid off in 5 years. Can we get the $6500 tax credit. We've lived here 7 years without interruption. Please advise.

Bonnie Scribner

January 14, 2010 4:23 AM

We are losing our home because of health issues, job changes, and reduced work due to poor health. We tried a loan mod through an atty, but it was a joke. -$200 for a trial period, but have to resubmit everything again. The lawyer said to give up. We are going to declare BK. We signed a contract the other night for a lovely mobile home that the owner will carry the note on, and we will get it paid off in 5 years. Can we get the $6500 tax credit. We've lived here 7 years without interruption. Please advise.

Bonnie Scribner

January 14, 2010 4:23 AM

We are losing our home because of health issues, job changes, and reduced work due to poor health. We tried a loan mod through an atty, but it was a joke. -$200 for a trial period, but have to resubmit everything again. The lawyer said to give up. We are going to declare BK. We signed a contract the other night for a lovely mobile home that the owner will carry the note on, and we will get it paid off in 5 years. Can we get the $6500 tax credit. We've lived here 7 years without interruption. Please advise.

Bonnie Scribner

January 14, 2010 4:23 AM

We are losing our home because of health issues, job changes, and reduced work due to poor health. We tried a loan mod through an atty, but it was a joke. -$200 for a trial period, but have to resubmit everything again. The lawyer said to give up. We are going to declare BK. We signed a contract the other night for a lovely mobile home that the owner will carry the note on, and we will get it paid off in 5 years. Can we get the $6500 tax credit. We've lived here 7 years without interruption. Please advise.

Bonnie Scribner

January 14, 2010 4:23 AM

We are losing our home because of health issues, job changes, and reduced work due to poor health. We tried a loan mod through an atty, but it was a joke. -$200 for a trial period, but have to resubmit everything again. The lawyer said to give up. We are going to declare BK. We signed a contract the other night for a lovely mobile home that the owner will carry the note on, and we will get it paid off in 5 years. Can we get the $6500 tax credit. We've lived here 7 years without interruption. Please advise.

Bonnie Scribner

January 14, 2010 4:23 AM

We are losing our home because of health issues, job changes, and reduced work due to poor health. We tried a loan mod through an atty, but it was a joke. -$200 for a trial period, but have to resubmit everything again. The lawyer said to give up. We are going to declare BK. We signed a contract the other night for a lovely mobile home that the owner will carry the note on, and we will get it paid off in 5 years. Can we get the $6500 tax credit. We've lived here 7 years without interruption. Please advise.

Penny

January 14, 2010 11:11 AM

We lived in our house for over 15 years. Last year we tore down the house and built a new house in the same spot. Do we meet the requirements for the $6500 credit?

D.Taylor

January 14, 2010 2:00 PM

My husband and I got married on 12/31/08
In July of 09 we sold his home of 17 years. I closed on a VA loan on 9/30/09. I was told I don't qualify for the 8000 first time home buyer tax credit because of the marriage and now not for the 6500 tax credit because of the closing date. As a veteran I'm hurt but as a tax paying citizen, I'm confused. Who Does The Credits Help? We thought we did what we were supposed to for the credit.

Hope Walgenbach

January 14, 2010 2:06 PM

so, we lived in our previous house for 9 years - bought a new one, closed October 16,2009 - do we still qualify for the tax credit. ?

Maritza M

January 14, 2010 2:35 PM

We "moved up" in the purchase of our current residence in October 2007. If we refinance this home (which is nowhere near the 800K) will we qualify for the new tax credit?

amy fick

January 14, 2010 4:45 PM

if i was a home owner for three years and purchased a home in jan 2009 do i qualify for the credit?

nguyen

January 14, 2010 6:41 PM

I bought my house year2000.I sold it year oct 2009 .I bought another house on dec 1st do I qualify for 6500 tax credit.

Kathy

January 14, 2010 10:13 PM

I am divorced and have been living in an apartment for the past two years. My husband and I owned a home together. I do not qualify for the first time homeowner credit since I owned the home with my husband while we were married. My question is since I owned a home with my husband for 5.5 consecutive years of the past 8 years will I be eligible for the $6,500 tax credit? I make less than $125K. - Thanks!

Aram Kazazian

January 15, 2010 12:38 PM

I bought my home May 5, 2005. Do I qualify for the $6500 tax credit if I close by June 30th. If I am under contract by april 30th I am shy of 5 years by 5 days. Can anyone confirm with me that I qualify?

Aram Kazazian

January 15, 2010 12:38 PM

I bought my home May 5, 2005. Do I qualify for the $6500 tax credit if I close by June 30th. If I am under contract by april 30th I am shy of 5 years by 5 days. Can anyone confirm with me that I qualify?

Aram Kazazian

January 15, 2010 12:41 PM

I bought my home May 5, 2005. If I gounder contract by April 30th I am 5 days short of 5 years. Do I qualify if I close by June 30th?

Katherine Burke

January 15, 2010 1:25 PM

We bought our house 3/28/2008, per H and R block we missed all the tax credits! Can anyone confirm this? We are getting a new tax preparer.

Katherine Burke

January 15, 2010 1:29 PM

We bought our house in 2008, according to H and R block, we do not qualify for any tax credits...is this true?

mike

January 15, 2010 3:16 PM

how do I file 4 the $6500 home move up tax credit. We meet all the qualifications. Thank U & Sincerely M. S.

Brendah

January 15, 2010 7:36 PM

I have lived in a home owned by my son for the past 3 years, My rent payment was his house payment only, he recently added my name to ownership with his. and I make the house payments under both our names, so this year I have to file as owner, but does this qualify for any tax credit ??

summer

January 16, 2010 10:44 PM

my husband and I closed on our second home on Nov, 05 2009 one day prior than the 6500 tax credit went into effect do we stil get the tax credit?????? We lived in our first home for over 10 years

Scott

January 17, 2010 12:15 PM

we have owned and lived in our home for 10+ years, we are doing a significant addition starting 1/18/10 scheduled for completion by 6/15/10, do we qualify for the $6500 tax credit, are there income level phase outs or does the credit disappear completely if income is $225,001

Lori

January 17, 2010 1:37 PM

Sure I would love to buy a new house that is more reasonably priced that the bloated price i paid for my house in 2004. I would love to get the tax credit but oops...I'm underwater and nobody wants to buy my house. And my rates will go up with the next increase of rates so I will be getting poorer by paying more on a house that keep losing value. I'm trying to see the logic of staying.
Any suggestions for people like me?

Don

January 17, 2010 4:33 PM

What if I closed on the evening of November 6th? any chance this credit would still work for me?

RS

January 17, 2010 11:24 PM

I AM ON SSDI. MY CREDIT HISTORY IS GOOD
ENOUGH THAT I QUALIFIED FOR A MODEST FIRST TIME HOME LOAN.I'VE LIVED IN A
MOBILE HOME FOR 19 YEARS. I'VE BEEN TOLD
THAT THE MH IS CONSIDERED "CHATTLE" AND THAT IT IS NOT CONSIDERED A "HOME"...IS THIS FACT?
WOULD I QUALIFY FOR THE HOME BUYER CREDIT,
SINCE I AM ON SSDI?

Stephanie

January 18, 2010 3:10 PM

I want to purchase a small home for rental property. I own my primary residence. Does a second home for rental property qualify for this or any other credits?

Paul

January 18, 2010 9:47 PM

We bought a home in June after selling our condo, which was our first home purchase. Since the house we just bought was our second home, are we eligible for the tax credit, or a partial tax credit? Thank you.

Bob

January 19, 2010 9:47 AM

I purchased a home on March 2009. I qualify for the $6500.00 tax credit under all of the guidelines. Is the tax credit going to retro back to that date?

curtis

January 19, 2010 9:51 AM

I purchased a home in October 2008. I qualified for the $7500.00 tax credit that was due to be paid back in $500.00 payments over the next 15 years. Is the IRS going to reverse that ruling due to the fact that the new tax credits do not have to be paid back?

Teresa Snyder

January 19, 2010 10:20 AM

Does this credit help long time home owners.. I bought my house in 1997, why isnt there a credit or something for the ones that have lived in their homes for a longer time?

Teresa Snyder

January 19, 2010 10:20 AM

Does this credit help long time home owners.. I bought my house in 1997, why isnt there a credit or something for the ones that have lived in their homes for a longer time?

Gina

January 19, 2010 2:24 PM

I am a little confused, I purchased my home in October of 2007. So does that mean I am eligible for the tax credit?

Brian

January 19, 2010 3:41 PM

I hoping that you can help with my circumstance. I've written to the White House and Senators but have not received a response. My wife and I were disqualified from benefiting from these housing credits because we got married in 2009. This is the sole reason for our disqualification. If I were still single I would qualify for the $6,500 Move-Up/Repeat Home Buyer Tax Credit, and if my wife was still single she would qualify for the $8,000 First-Time Home Buyer Tax Credit, but because we got married we no longer qualify for either. I've contacted the IRS and they have confirmed to me that because we got married we no longer qualify. This situation makes zero sense to me and further exemplifies why I believe government intervention can only lead to more problems and confusion. Is it’s our governments intention to penalize couples for getting married? How does the U.S. government justify issuing a credit intended to help the housing market recover when it disqualifies couples that statistically represent a huge demographic of the home buying market? I'd appreciate any help you can offer to escalate this issue. Thank you for your time and consideration.

jackie

January 19, 2010 5:59 PM

I purchased a home in Feb.2006. Do i qualify for the $6500 tax credit?

Dink

January 19, 2010 8:57 PM

Does refinancing your home qualfy for the 6,500.00 tax credit? had to do all the exact same paperwork and cost as buying new.

kendall stroud

January 19, 2010 9:18 PM

I purchased my last home in 2001 and sold it february 2009. I purchased another home in may of 2009. Will I qualify based on this time line line?
Is there any other qualifiers I should be aware of.

Adam Clark

January 20, 2010 9:17 AM

If I plan to build a new home and sold my last home that I lived in for 5 years does the new construction qualify for the 6500?

Gail

January 20, 2010 2:47 PM

We lived in our house for 13 consecutive years, bought a new house - closed on Sept 4, 2010. Do we get to take the $6500. credit as it was before the law was signed?

Jimmy Rhodes

January 20, 2010 2:53 PM

My primary home use purchased March 1, 2000 and I purchased a second home Jan 19, 2009. Do I qualify for the $6,500 tax credit?

Vicki

January 20, 2010 3:02 PM

Like the other three million questions - lived in my previous home for 8 years - sold it in September 09 and bought in Sept 09 - we meet the income guidelines - how far back are they letting us go retro? Novemeber or bust? Or will we squeak by?

Thanks

Vicki

January 20, 2010 3:04 PM

Like the other three million questions - lived in my previous home for 8 years - sold it in September 09 and bought in Sept 09 - we meet the income guidelines - how far back are they letting us go retro? Novemeber or bust? Or will we squeak by?

Thanks

BLANCA PENA

January 20, 2010 5:26 PM

I PURCHASED MY FIRST HOME IN JANUARY 2005 DO I QUALIFY FOR THE $6'500 TAX CREDIT . PLEASE SEND ME THE ANSWER THANKYOU

Becky Matthews

January 21, 2010 9:10 AM

We closed on a new principal residence on Oct 30th 2009. Will we qualify for the tax credit.

Thank you.
Becky

Becky Matthews

January 21, 2010 9:10 AM

We closed on a new principal residence on Oct 30th 2009. Will we qualify for the tax credit.

Thank you.
Becky

Dave

January 21, 2010 9:11 AM

I apologize if I'm being redundant here--purchased initial house Oct '98, lived there until Oct '09, purchased a foreclosure in Aug '08 and worked on for 13 mos to get semi renovated. Finally gave up trying to sell & rented out initial residence in Oct '09--under the new guidelines are we eligible?

Dominic

January 21, 2010 9:33 PM

I closed on my new primary residence in June 2009. Can I qualify for the $6500 tax credit

Vicki

January 22, 2010 10:07 PM

My husband and I owned our home jointly for 25 years. We separated early 2009 and I bought his share of the equity and re-purchased the home. He then purchased a different home on his own. This was before our divorce in June 2009. Do either of us qualify for any tax credits?

NASS

January 23, 2010 11:19 AM

WE ARE BUILDING A NEW HOME .THE CONTACT WAS SIGNED IN EARLY NOVEMBER AND WE SHOULD BE CLOSING ON THE HOUSE LATE JUNE OR EARLY JULY. WOULD WE BENEFIT FROM THE 6,500 DOLLARS TAXE CREDIT? IF YES CAN WE CLAIM IT FOR THE DOWN PAYMENT ?

NASS

January 23, 2010 11:19 AM

WE ARE BUILDING A NEW HOME .THE CONTRACT WAS SIGNED IN EARLY NOVEMBER AND WE SHOULD BE CLOSING ON THE HOUSE LATE JUNE OR EARLY JULY. WOULD WE BENEFIT FROM THE 6,500 DOLLARS TAXE CREDIT? IF YES CAN WE CLAIM IT FOR THE DOWN PAYMENT ?

NASS

January 23, 2010 11:20 AM

WE ARE BUILDING A NEW HOME .THE CONTRACT WAS SIGNED IN EARLY NOVEMBER AND WE SHOULD BE CLOSING ON THE HOUSE LATE JUNE OR EARLY JULY 2010. WOULD WE BENEFIT FROM THE 6,500 DOLLARS TAXE CREDIT? IF YES CAN WE CLAIM IT FOR THE DOWN PAYMENT ?

NASS

January 23, 2010 11:27 AM

HELLO.
WE ARE BUILDING A NEW HOME. WE SIGNED THE CONTRACT LATE OCTOBER ,EARLY NOVEMBER 2009. WE SHOULD CLOSE ON THE HOUSE LATE JUNE AND EARLY JULY. WOULD WE BENEFIT FROM THE TAXE CRIDIT OF 6.5000 DOLLARS ? IF YES CAN WE USE IT FOR A DOWN PAYMENT?

NASS

January 23, 2010 11:28 AM

HELLO.
WE ARE BUILDING A NEW HOME. WE SIGNED THE CONTRACT LATE OCTOBER ,EARLY NOVEMBER 2009. WE SHOULD CLOSE ON THE HOUSE LATE JUNE AND EARLY JULY. WOULD WE BENEFIT FROM THE TAXE CRIDIT OF 6.5000 DOLLARS ? IF YES CAN WE USE IT FOR A DOWN PAYMENT?

John

January 23, 2010 11:49 AM

I purchased my home in 2006 and still reside in it (Jan 2010). It would appear that no tax credits out there would apply to me. Is that correct? Thanks

Matt

January 23, 2010 3:35 PM

So far it seems like we qualify for the $6500, but we're buying from parents (who are also buying a new house). Is there any language against buying from family? Any help would be appreciated!

Matt

January 23, 2010 3:39 PM

So far it seems like we qualify, but we are buying our new house from parents (who are also buying a new house). Is there any language in the fine print against buying from family? Any help would be appreciated!!

Dilma

January 23, 2010 3:59 PM

Please help! I am going crazy trying to figure out if we qualify for the 6500 Second time home buyer tax credit. We signed our escrow papers on October 30, 2009, but didn't move into our new home until November 7th. We lived in our previous home for more than 10 years. Do we qualify? We'd really appreciate a reply.

Dilma

January 23, 2010 4:05 PM

Please help! I am going crazy trying to figure out if we qualify for the 6500 Second time home buyer tax credit. We signed our escrow papers on October 30, 2009, but didn't move into our new home until November 7th, 2009. We lived in our previous home for more than 10 years. Do we qualify? We'd really appreciate a reply.

Dave

January 23, 2010 4:06 PM

I just inherited my parents' home, and I'm financing the remaining payments with Intercontinental Capital Group in New Jersey. I have never owned a home before and am wondering if I qualify.

Dave

January 23, 2010 4:07 PM

I just inherited my parents' home, and I'm financing the remaining payments with Intercontinental Capital Group in New Jersey. I have never owned a home before and am wondering if I qualify for the first time buyer tax credit. Anyone know?

Dave

January 23, 2010 4:09 PM

I just inherited my parents' home, and I'm financing the remaining payments with Intercontinental Capital Group in New Jersey. I have never owned a home before and am wondering if I qualify for the first time buyer tax credit. Anyone know?

Beatrice

January 23, 2010 7:58 PM

I purchased a home in April 2008 do I still qualify for the $6500 tax credit?

Beatrice

January 23, 2010 7:58 PM

I purchased a home in April 2008 do I still qualify for the $6500 tax credit?

jerry

January 24, 2010 12:53 PM

I am planning on purchaing a home in March, 2010. To qualify for the $6,500 does my income in 2010 need to be below $225,000 or is it based on prior year income? What is included in income, i.e. social security, wages, interest & dividends, pensions etc.?

Elijah

January 24, 2010 6:08 PM

I have owned my home since 2002. I'm not buying another home just for $6500. Does that qualify for anything?

Jennifer

January 24, 2010 7:55 PM

We are building this year. Our closing is set for February 19, 2010 and we signed a contract with our builder in late December 2009. We have lived in our current home since November 2003. Will we qualify for the $6500 credit even if we are not moved in by June 30, 2010? Our contract is for the home to be finished 6 months from the closing date.

Amy

January 24, 2010 10:35 PM

I am confused! Do I qualify for the $6,500 tax credit? I bought a home in June 2009 and didn't sell my home I lived in for 25 years, untill November 2009. And if I do qualify, who do I contact?

Amy

January 24, 2010 10:35 PM

I am confused! Do I qualify for the $6,500 tax credit? I bought a home in June 2009 and didn't sell my home I lived in for 25 years, untill November 2009. And if I do qualify, who do I contact?

Pam

January 25, 2010 7:35 AM

My husband and I moved to South Carolina in May 2006. We had previousely owned our home in Washington State for 26 years. We sold our home in Washington to our son in 2007-2008. We purchased a home in SC knowing it would be temporary until we found something that we really liked. Lived there til June 2009 when we purchase our dream home. Do we qualify? Maybe for the 6500.

Klein

January 25, 2010 8:36 AM

These homebuyer credits are based on 10% of the purchase price with a maximum of $6,500 and $8,000 credit.

To qualify for a $6,500 credit, the home's purchase price would have to be between $650k and $800k. Likewise to qualify for an $8,000 credit, the purchase price would have to be $800k.

Does anyone who qualifies for these maximum credits really need more government assistance than someone buying a $50k home who qualifies for only $500 credit?

Reversing the qualification criteria may be more stimulating. $6,500/8,000 credit for $100,000 purchase price, $1,000 credit (or none) for $800,000 purchase price.

More help for those who really need it, less for those who don’t!

Pia

January 25, 2010 1:06 PM

We purchased our home in 2005, signed contract in March/April 2005 and closed in June 2005. If we entered a home binding contract to buy, a principal residence on or before April 30, 2010 and close on the home by June 30, 2010, are we eligible for the tax credit?

Note that we closed in June 2005 and will need to enter a binding contract by April 2010. We are not in our home for 5 full calendar years. We will probably meet the 5 year criteria if we use the contract date of April 2005.

Are we eligible for the tax credit?

John

January 25, 2010 1:47 PM

Please help! We are totally confused and the more I read up on this the more confused I'm getting. We lived in our last house for 10 years before purchasing our new house in August 2008. Do we qualify for the $6,500.00 tax credit?? Please answer. I don't know where else to go.

Kaye

January 25, 2010 4:01 PM

Purchased a home in April 2006 sold the house in August 2006. Then just recently purchased a home in 2009 do I qualify for the $6500.00 tax credit. It has been all of 2007, 2008, and 2009.

Peter Smith

January 26, 2010 1:15 AM

I bought a castle in 1797 in the Scottish Highlands and I live forever. Do I qualify?

Peter Smith

January 26, 2010 1:17 AM

you all ask a lot of questions

Klein

January 26, 2010 6:29 AM

Pardon my ignorance; clearly I wasn’t thinking straight when running the numbers yesterday. I’ll keep quiet now.

MONIQUE

January 26, 2010 12:30 PM

With the original tax credit it is basically 10 percent of the new home purchase up to $8,000. Does the $6,500 tax credit work the same way?

Lisa

January 27, 2010 9:52 AM

My husband and I purchase a second home
in January 2009, we currently live in
our first home since 2003. Are we eligible for the $6500.00 tax credit.

Davis

January 27, 2010 9:55 AM

purchased a house in September 2004, filed bankruptcy in 2009, bank foreclosed on property and auctioned it in September 2009 and we moved out in September 2009. Managed to get financing and closed on a home in October 2009. Do I still qualify for $6500 home buyers credit?

omar

January 27, 2010 6:14 PM

lived from 2000 to March 2009 at same residence, bought a new home in march 2009- do I qualify?

Larry

January 27, 2010 7:12 PM

Lived from November 1999 to March 2009 in the same residence, bought a new home march 17, 2009. Do I qualify?

Tom Stotenbur

January 27, 2010 7:52 PM

My wife has owned her home for 5 1/2 of the past 8 years (she is the only name on the deed). I went bankrupt before we got married and gave my home back to the bank April 2009. I moved in with my wife January 2009 and we got married in March 2009. I have not lived in the home for 5 out of 8 years, would there be a way my wife and or both of us would qualify for the tax credit?

joan

January 27, 2010 9:07 PM

I owned a home with my husband for 5 out of the last 8 years. We got a divorce in early 2009. Part of the agreement was that i was to get his name off the mortgage within 3 years. I couldn't refinance since the mortgage was too high for my income. So I had to sell the home and buy a smaller one. I closed on 10/6/09. Can I qualify for one of the credits?

goldie

January 28, 2010 12:32 AM

does the 6500 tax credit apply to any one who is currently refinancing their home they already live in??

Nancy De Anda

January 28, 2010 12:23 PM

Can a homeowner get the tax credit IF they have refianced their home? Thank You

Nancy

January 28, 2010 12:25 PM

Does the tax credit apply to homeowners refinancing the home they already have?

mandy

January 28, 2010 1:09 PM

We purchased a house in 2001. We owned it for 5 years. We sold that one and bought 2 other houses. One house was primary resisdent the other one was a rent house. We just sold both of those in 2009. We are now buying another house we will close on it this week. Do we qualify for the 6500.00 refund?

Jake

January 28, 2010 2:12 PM

We purchase a home in Nov. 2004 and sold it in June 2009. Do you count years as 365 day years, so we would fall short of qualifying because we were 5 months shy of 5 years. Or do you count years as tax years in which we owned it from 2004 - 2009 which would equal 5 years? We have since purchased a new home in Dec. 2009 and are struggling to figure out if we qualify for the $6,500 credit or not.

Virginia

January 28, 2010 3:18 PM

We owned a home in MA for over 20 years. Just bought a home in SC. We had an agreement in October, signed on November 3rd and moved in November 6th. Are we not eligible because we had occupancy 24 hours before November 7th?????????

pat paul

January 28, 2010 10:15 PM

why isn't there help out there for homeowners who are struggling to pay for the home they have and aren't selling and buying a new one or renting my home and building another. doesn't seem fair.

pat paul

January 28, 2010 10:15 PM

why isn't there help out there for homeowners who are struggling to pay for the home they have and aren't selling and buying a new one or renting my home and building another. doesn't seem fair.

pat paul

January 28, 2010 10:16 PM

why isn't there help out there for homeowners who are struggling to pay for the home they have and aren't selling and buying a new one or renting my home and building another. doesn't seem fair.

Mike

January 28, 2010 10:56 PM

are any of these questions answered anywhere?

Billie Jo

January 29, 2010 4:22 PM

Are we considered First Time Home Buyers?

My husband and I purchased some acreage in 2001. In 2004 we built a small house on the property for us to use when we visited his home town ... we were both in the military and recently retired and have now decided we to purchase a home to reside in.

We will maintain ownership of the acreage but want to purchase a house in a different location away from the initial property.

Are we considered first time home buyers? We have never had a mortgage.

Stephanie

January 30, 2010 1:27 PM

Wow, just another blow for me.

I bought my first house in July of 2005 in an "up and coming" neighborhood, then the market tanked. I'm now ready to upgrade, but I need to wait because I'm single income and need to get as much as I can out of my current home sale; which now appraises for 20k less than what I bought it for. I can't even refinance and take advantage of the lower rates b/c I owe more than I can re-fi for. I was hoping with the whole "up and coming" situation of this neighborhood I would be able to leverage this house to purchase my forever home.

So, am I now to understand I fall one month short of qualifying for this credit???

Amy skenandore

January 30, 2010 4:14 PM

we lived in our house for 7 yrs.and up graded to a bigger house in april 14 2009 do we qualify for the 6500
thanks you Amy

Amy skenandore

January 30, 2010 4:14 PM

we lived in our house for 7 yrs.and up graded to a bigger house in april 14 2009 do we qualify for thw 6500
thanks you Amy

R Sampath

January 30, 2010 10:12 PM

Due to an abnormal year for income in 2009, we have exceeded the $225K cut off to qualify. If the adjusted gross is $245K what amount of the $6500 do we qualify for our second home purchase (we have met all other requirements). If not, is there a way to claim this deduction in the 2010 tax return instead of 2009? Much appreciate the response.

AMY D

January 31, 2010 3:41 PM

I bought my home in late May 2005. If I go under contract by April 30th 2010 but don't close until June 2010, I would of owned my home for 5 years, as of late May 2010. Would I still qualify for the 6500 tax credit if I've not owned my home for 5 years as of April 30th 2010?

Bill P.

January 31, 2010 4:13 PM

I have a simular queston as Amy D (January 31,2010). I purchased my home on April19, 2005 and moved in on the april 20th 2005. I am looking at a home and want my cloing date on that home to be April 20th 2010. This would be 5 years to th day. D0 I qualify for the $6500.00? Our is they some hiden rule on what 5 years is?

Thanks for you help Bill

Bill P.

January 31, 2010 4:13 PM

I have a simular queston as Amy D (January 31,2010). I purchased my home on April19, 2005 and moved in on the april 20th 2005. I am looking at a home and want my cloing date on that home to be April 20th 2010. This would be 5 years to th day. D0 I qualify for the $6500.00? Our is they some hiden rule on what 5 years is?

Thanks for you help Bill

tony hinson

January 31, 2010 7:20 PM

I have a doublewide that I have lived in since 97, if I replace it with a new constuction house at same address do I get the $6500?

Seth

January 31, 2010 8:03 PM

My wife and I bought our first home in March of 2008, to my knowledge we don't qualify for anything, is this true?

dussie

January 31, 2010 10:34 PM

I bought a house in 1992. Lived in it to present. If I buy a
second house now, would I be qualified for $6500 tax credit.

d larmon

January 31, 2010 11:14 PM

I lived in my home over 6 years. Does a refinance so I can get a lower rate qualify for the new $6500 tax credit?

d larmon

January 31, 2010 11:14 PM

I lived in my home over 6 years. Does a refinance so I can get a lower rate qualify for the new $6500 tax credit?

d larmon

January 31, 2010 11:14 PM

I lived in my home over 6 years. Does a refinance so I can get a lower rate qualify for the new $6500 tax credit?

Jim Benham

February 1, 2010 7:33 AM

Does the new home qualify even if it's a "move down" in terms of price? We want to move. The new house we want to buy costs less than the house we currently own. Do we still qualify for the tax credit?

Heather

February 1, 2010 10:46 AM

I bought my home March 2008. Am I not eligible for anything????

Henry Wyatt

February 1, 2010 10:56 AM

My question, we have just purchased a home in Ky which will become our primary residence. We closed on 12/30/09. However, we intend to keep our home in Maine as a summer residence. We have owned it for more than 10 years. Do we qualify as repeat buyers?

Samantha

February 1, 2010 9:22 PM

Also wondering if these questions are answered anywhere... We closed on our house ON November 6th, 2009, and meet all other requirements. Are we eligible for the $6500?

Karthik

February 1, 2010 11:28 PM

Dang. We bought our home in october 2005. It is between 4 and 5 years.

tnm

February 2, 2010 11:28 AM

i purchased my home November of 2007. Since the proper paperwork probably didn't get probated until January 2008. Do I qualifying for the tax credit?

Drl

February 3, 2010 9:47 AM

We bought our first home in December 2006, but didn't get into the house until Feb. 07 is there not any tax credits that we are approved for being first time homebuyers.

drl

February 3, 2010 9:49 AM

We purchased our home in Dec. 2006 and didn't get moved in final until Feb. 2007 is there not any tax credits that we would have been approved for being first time homebuyers?

Reg

February 3, 2010 10:46 AM

We're currently in Escrow and looking to close on March 1. Can we file our 2009 taxes with the $8000 credit or do we file that separately?

Juliet

February 3, 2010 3:54 PM

do we qualify, we purchased on 4/5/02 and closed escrow on 3/29/07, just shy of 5 years by 6 days! Do we still qualify???

Midwest Flood Victim

February 3, 2010 5:43 PM

What if you lost our home to a flood in 2008 and purchased a new home in 2009 under an FHA 203h program that expired within a year of the disaster? Would we qualify for a tax credit for the new home?

nicky

February 3, 2010 6:40 PM

my husband and i purchase a new home in march 2009. we lived in our old house since 2000 do we qualify for the tax credit

nicky

February 3, 2010 6:40 PM

my husband and i purchase a new home in march 2009. we lived in our old house since 2000 do we qualify for the tax credit

deydre

February 3, 2010 7:45 PM

my husband and i closed on our home on may, 16th 2005.... do we qualify for "longterm resident of same home" first time home buyers tax credit. All this mess is so confusing

deydre

February 3, 2010 7:49 PM

my husband and i closed on our home on may, 16th 2005.... do we qualify for "longterm resident of same home" first time home buyers tax credit. All this mess is so confusing

Kevin

February 4, 2010 1:12 AM

My wife and I are scheduled to close on our house by March 12. We would have lived in our house for 4years and 10 months. Can we still apply and get somekind of tax credit if not the entire $6500?

dorothy

February 4, 2010 11:36 AM

I am trying to find out if we sold our
house and bought a different one and
closed on september l8, 2009 do we qualify for the 6500 tax credit

wil

February 4, 2010 2:48 PM

ive owned a house for 4 years and five months before buying a new house in dec 09 do i qualify for anything?

Shelli

February 4, 2010 4:08 PM

We sold our house and re-bought through a different company. Does this count on the $6,500. Thanks

Brian

February 5, 2010 1:44 PM

My mother bought my house in Dec. Will she get the credit even though she bought from a family member? Thanks

Sheila

February 5, 2010 7:40 PM

My husband and I bought a home in 1996 and I lived there until 2008 until my divorce and I bought my own home in Feb 2009, do I qualify for any of this

Alyce

February 5, 2010 8:49 PM

My husband and I purchased a home in May '2002. In May '08 we legally seperated, and the marital home was sold Oct. '08. We are now divorced and I have been renting since '08. I am in the process of purchasing a home to reside in. Do I qualify for the tax credit, and if so, what amount?

Elizabeth

February 6, 2010 9:14 PM

My husband and i purchased a home on 2003 and we lived there until august 2009. He went to file his taxes and he did not get back the $6,500.He wants to know if there was a mistake and if he should go back to claim the tax credit.

Rita

February 6, 2010 11:53 PM

I purchased a house in May of 1998. I lived in the house until I sold it in September of 2007. I have been renting an apartment. I am buying a house now. Will I get the $6500 tax credit?

Christine

February 7, 2010 1:57 AM

My fiance an dI are looking to buy a house, his mtoher wants to put the down-payment as a wedding gift for us. I have 2 questions about this:

1. She says that she would have to co-sign in order for us to qualify for the first time tax credit, is that true?

2. If she does co-sign will that effect us in any way considering she would not be living with us and has a home of her own?

Natalie

February 7, 2010 12:14 PM

Is there a way to find out if this has been a successful program?
http://www.ehow.com/how_5735822_qualify-home-buyer-credit.html
program

Selena

February 7, 2010 5:34 PM

If I sold my home in Dec 2007 and resided there for more than 5 years and bought another home in January 2009, Do I qualify for the $6,500.00 tax credit?

Selena

February 7, 2010 5:34 PM

If I sold my home in Dec 2007 and resided there for more than 5 years and bought another home in January 2009, Do I qualify for the $6,500.00 tax credit?

Selena

February 7, 2010 5:34 PM

If I sold my home in Dec 2007 and resided there for more than 5 years and bought another home in January 2009, Do I qualify for the $6,500.00 tax credit?

Selena

February 7, 2010 5:34 PM

If I sold my home in Dec 2007 and resided there for more than 5 years and bought another home in January 2009, Do I qualify for the $6,500.00 tax credit?

Selena

February 7, 2010 5:34 PM

If I sold my home in Dec 2007 and resided there for more than 5 years and bought another home in January 2009, Do I qualify for the $6,500.00 tax credit?

Selena

February 7, 2010 5:35 PM

If I sold my home in Dec 2007 and resided there for more than 5 years and bought another home in January 2009, Do I qualify for the $6,500.00 tax credit?

Selena

February 7, 2010 5:35 PM

If I sold my home in Dec 2007 and resided there for more than 5 years and bought another home in January 2009, Do I qualify for the $6,500.00 tax credit?

michelle williams

February 8, 2010 2:34 PM

I WOULD LIKE TO KNOW IF I BOUGHT MY HOUSE IN JAN.2006. DO I QUALIFY FOR THE $6500.00 TAX CREDIT EVENTHOUGH I DONT PLAN TO PURCHASE ANOTHER HOME. I AM CURRENTLY LIVING IN THE HOME.

daniel j irish

February 8, 2010 8:13 PM

I PURCHASED MY HOME FROM MY FATHER IN LAW,IT WAS NOT A GIFT BUT A PURCHASE.DO I QUALIFY FOR THE 6500.00 TAX CREDIT?

DANIEL IRISH

February 8, 2010 8:16 PM

I PURCHASED MY HOME FROM MY FATHER IN LAW,IT WAS NOT A GIFT.DO I QUALIFY FOR THE 6500.00 TAX CREDTI?

DANIEL IRISH

February 8, 2010 8:16 PM

I PURCHASED MY HOME FROM MY FATHER IN LAW,IT WAS NOT A GIFT.DO I QUALIFY FOR THE 6500.00 TAX CREDTI?

DANIEL IRISH

February 8, 2010 8:17 PM

I PURCHASED MY HOME FROM MY FATHER IN LAW,IT WAS NOT A GIFT.DO I QUALIFY FOR THE 6500.00 TAX CREDTI?

John Tucker

February 9, 2010 11:26 AM


SUBJECT: Home construction by home owner -

contracted to have home "dryed-in" (dryed-in completed July 2009)and we are finishing the rest of the construction ourselves. We plan to move in prior to 30 April 2010. We also meet the 5 year qualification as prior homeowner.

Since the move in date on new construction is the IRS purchase date does it matter that construction started in early 2009?

J&L

February 9, 2010 7:05 PM

we lived in our home 5 out of last 8 years we signed our hud paper that H&R block ask to see on Nov. 5

Robin

February 10, 2010 5:47 AM

My husband owned his home for 5 yrs and I have owned mine for 3 yrs. We just got married on Oct 30, 2009. We are closing on a new build on Feb 26. From what I read, he wouldn't qualify for the $6500 tax credit because we are now married and I haven't owned my home for 5 yrs. Is this correct or would he qualify and if so, would we have to file separately?

Michelle

February 10, 2010 3:22 PM

My husband and I meet all of the requirements for the $6500 tax credit--except we closed on our new house 10/20/09. Had we known about the possibility of a tax credit we could have put off the closing for 2 weeks! Would we qualify for the credit anyways?

jj

February 10, 2010 6:42 PM

we are buying a 4 unit apartment building. Building will be purchased jointly with relative (50/50 split). We will live in 1 of the units for 3 years while getting ready to build a home. Relative will not live in the building. Can we claim the tax credit based on our 1/2 the purchase price of the apartment building?

Kate

February 10, 2010 8:43 PM

I have an odd situation. I purchased a family home in 1998 and lived in it until it was foreclosed on in Dec. 2006. I got married in 2008 and purchased a home with my husband in Sept. 2009. He has never owned a home before. Do we qualify for any part of the home buyer tax credit?

anthony

February 11, 2010 1:06 PM

I PURCHASED MY HOME IN 1998 AND GOT DIVORCED IN 2006. SINCE THEN I HAVE NOT LIVED IN THE HOME BUT I STILL PAY THE MORTGAGE AS PART OF MY CHILD SUPPORT. DO I QUALIFY FOR THE 8,000 CREDIT OR 6,500 SINCE THE HOME HAS NOT BEEN MY PRIMARY RESIDENCE SINCE 2006?

Marty

February 11, 2010 6:06 PM

My husband & I purchased our home in June 2007. I was a first time buyer. Do we qualify for the $6,500 credit?

Marty

February 11, 2010 6:06 PM

My husband & I purchased our home in June 2007. I was a first time buyer. Do we qualify for the $6,500 credit?

Marty

February 11, 2010 6:10 PM

My husband & I purchased our home in June 2007. I was a first time buyer. Do we qualify for the $6,500 credit?

marty

February 11, 2010 6:16 PM

My husband & I ourchased our home in June 2007. I am a first time buyer. Do we qualify for the$6,500 credit?

journey

February 11, 2010 8:13 PM

My fiance and I purchased a home in 2004 in only my name, but he claims the interest on his return. We are looking to purchase a new home in his name would he qualify for either credit? My dilema is since he has claimed the int they may not consider him a 1st time buyer, but since he is not on the loan he may not qualify for the step up either. hmmmmm

eflow

February 11, 2010 8:25 PM

I purchased a house from my neighbor( and his bank) on a short sale. My neighbor owned the house for over 5 years before the short sale and is now renting it from me. If the neighbor purchases the house from me on a land contract before April 30, will he qualify for the $6500 credit?

Dan

February 13, 2010 9:33 AM

I have lived in my current home on 7 acres since 1982, and am building a second home, can I rent my first home and move into new home and claim credit.
Also are there any energy credits available for the new home?

Andrea

February 14, 2010 11:15 AM

I had heard that there may have been very recent changes for current homeowners regarding the tax credit - is the minimum still 5 years' residency in the previous home (as I still see online), or has it changed to 3 years? We've bought & started living in our home in Jan of 2007 and are looking now to rent it and buy a second...

Phil

February 14, 2010 3:17 PM

I've been living in my house as a primary home for more than 30 years. I got moarried in October and my wife was living in her primary home for 4 1/2 years. We built a house in November 2009 and we sold our houses before we moved tho the new one together. Can I still qualify for the $6500 tax credit if we file join taxes or should we file individual taxes so I can get the $6500 tax credit?

Jane

February 15, 2010 2:44 PM

We have owned and lived in our current home for over 10 years. We want to downsize to a condo....purchasing with cash, move to it while we get our current home ready to sell.
If we claim the tax credit on the new condo purchase, will the sale of our current home be treated as the sale of our primary residence or as that of an investment property? Thanks!

Wendy

February 15, 2010 5:58 PM

We have lived in our primary residence since June of 2000. Last July 2009 we purchased a 2nd home (not primary residence but a weekend lake house). Would we qualify for any credit?
Any help would be appreciated!

cheryl

February 16, 2010 5:16 AM

I bought my house in 2001.I still live there do I qualify for the $6500 tax credit. I make less then $125,000.

cheryl

February 16, 2010 5:16 AM

I bought my house in 2001.I still live there do I qualify for the $6500 tax credit. I make less then $125,000.

bob

February 16, 2010 11:48 AM

I am retire just buying a home in florida but my new wife of 4 years owns a house and has lived in it for 10 years. I want to get residency in florida but she still working in maine would we quaiify for any of the programs. The house is in her name and I have not owned a home in years but this home is going to be only in my name but we file joint tax returns.

Joe

February 16, 2010 7:46 PM

Overwhelming, isn't it? Hardly anyone is qualifying for this fiasco and if you do you won't get a check for 16 weeks. Also there's a marriage penalty. You can't be married and separated and live in 2 separate homes either. You can't file married and separated and have 2 homes, and they don't care about legal separation either.

Don

February 16, 2010 8:07 PM

I bought a home in 2001,I'm renting it out. Will I qualify to purchase a home for my primary home

Sherri Chambers

February 17, 2010 11:00 AM

I purchased a home in 2002 and sold it (finally) in 2009 (loss) after retiring in 2008. I purchased another home in 2009 and since I'm retired I had to pull money out of an IRA to put down on it to keep the payment low enough to afford. I believe I SHOULD have been qualified for the $6500 credit -- but because the IRA withdrawal shows up as income -- It makes me ineligible for the tax credit. I understand that I had to pay taxes on the withdrawal -- but didn't realize it would disqualify me from the home purchase tax credit. Once again, the tax law as written impacts retirees adversely.

Sherri Chambers

February 17, 2010 11:00 AM

I purchased a home in 2002 and sold it (finally) in 2009 (loss) after retiring in 2008. I purchased another home in 2009 and since I'm retired I had to pull money out of an IRA to put down on it to keep the payment low enough to afford. I believe I SHOULD have been qualified for the $6500 credit -- but because the IRA withdrawal shows up as income -- It makes me ineligible for the tax credit. I understand that I had to pay taxes on the withdrawal -- but didn't realize it would disqualify me from the home purchase tax credit. Once again, the tax law as written impacts retirees adversely.

Jax_Benson

February 18, 2010 4:01 PM

We are in a bind, don't know what to do. We bought a house in June 2008 & were forced to sell it due to my husband's lay off in June 2009 (he got a job in a new state)-we put it on the market in August 2009, sold in Sept. We have moved & our lessor is in the situation she needs to sell the house we are renting & we would like to buy. We owned the house for a little over a year & that was our first house. Do we qualify for any credit or are we a couple that slips through the cracks?

MARY

February 20, 2010 1:57 PM

I AM APPAULD AND SADDENED TO SEE THAT MARRIED COUPLES ARE BEING DISCRIMINATED AGAINST AND ARE NOT ABLE TO QUALIFY FOR THE $6500 CREDIT IF "BOTH" PEOPLE DON'T MEET THE CRITERIA. HOWEVER TWO SINGLE PEOPLE CAN PURCHASE A HOME TOGETHER AND STILL GET THE TAX CREDIT IF ONLY ONE PERSON QUALIFIES. HOW SAD IS THIS, THAT OUR GOVERNMENT DOESN'T VALUE THE SANCTITY OF MARRIAGE BUT PENALIZES US FOR IT...

danny

February 20, 2010 5:58 PM

i bought my first home in july 2001 and sold it october23 2009 and bought another that i live in oct 26 2009 am i eligable for the 6500 credit

danny

February 20, 2010 5:58 PM

i bought my first home in july 2001 and sold it october23 2009 and bought another that i live in oct 26 2009 am i eligable for the 6500 credit

danny

February 20, 2010 5:58 PM

i bought my first home in july 2001 and sold it october23 2009 and bought another that i live in oct 26 2009 am i eligable for the 6500 credit

danny

February 20, 2010 5:58 PM

i bought my first home in july 2001 and sold it october23 2009 and bought another that i live in oct 26 2009 am i eligable for the 6500 credit

Tom

February 21, 2010 8:51 AM

Hi,
I'm doing my taxes and would like to know if I can claim the 6500 credit for a house I bought on 30/Oct/2010? Did I miss this credit by 7 days, and if so, what recourse do I have?
Regards,
Tom

Rick

February 21, 2010 11:35 AM

I currently own a home, which is paid in full. I purchased another home to move in to and rented out my first home. I am considering selling my current home that is mortgaged to purchase another home in a different city. Will there be any tax breaks for me?
Respectfully,
Rick

Fran

February 21, 2010 2:23 PM

My husband and I lived in our previous home continuously for 8+ years and therefore qualified as move-up/repeat home buyers. We are currently living in the same city in a home which we purchased in May 2009. Are there any tax breaks for us?

Thanks for any light you can shed on this.

Fran

February 21, 2010 7:40 PM

ABOUT THE $6500 TAX CREDIT

Many people have satisfied the residency requirements for Home #1. They have also purchased Home #2 in 2009 and are currently living in it.

It does not seem fair for these people not to be qualified for the $6500 tax credit because the transactions (purchase of Home #2 and the sale of Home #1) were completed in 2009 BUT prior to November 6, 2009.

Consideration should be given to these people who have done much to help our ailing economy.

Fran

February 21, 2010 7:40 PM

ABOUT THE $6500 TAX CREDIT

Many people have satisfied the residency requirements for Home #1. They have also purchased Home #2 in 2009 and are currently living in it.

It does not seem fair for these people not to be qualified for the $6500 tax credit because the transactions (purchase of Home #2 and the sale of Home #1) were completed in 2009 BUT prior to November 6, 2009.

Consideration should be given to these people who have done much to help our ailing economy.

Tracey

February 21, 2010 9:31 PM

We paid above appraised value for my in laws home and farm, and found out we don't qualify for the credit. Isn't buying a house and farm at a premium price stimulating the economy regardless of who you buy it from?

Ida Law

February 22, 2010 7:25 AM

My daughter and son in law bought their second home in October,2009. Is there anything rebate or credit that they can recieve? I would hope that they could get the $6,500.00 rebate.credit. I realize they have only lived in this house for a few months, but they owned thier previous home for 3 plus years. Will President Obama consider this? They really really need help. Thank you for your time.
Regards,
Ida

Shane

February 22, 2010 8:25 AM

I rented my property from 2003 to 2005 and then I bought it in the summer of 2005. It is my first home and I am now wanting to up grade. It is Feb. 2010 and I was wondering if I qualify for the tax rebate for second time buyers.

Kevin Kelley

February 22, 2010 12:29 PM

We bought a home on August 17, 2009 that we currently live in. The home that we lived in previously (since Nov 2000)we currently still owned but have it on the market trying to sell it. Do we qualify for the $6500 tax credit?

Janice Clemons

February 23, 2010 10:02 AM

I sold my home going on three years ago and have not bought a new home. If I buy another house will I qualify for the tax credit. Income is aound $25000.00 a year...

Janice Clemons

February 23, 2010 10:02 AM

I sold my home going on three years ago and have not bought a new home. If I buy another house will I qualify for the tax credit. Income is aound $25000.00 a year...

Robert

February 23, 2010 1:08 PM

We want to purchase our son's investment property/home to prevent him from losing it to foreclosure. IRS Form 5405, question E asks, "Did you purchase the home from a related person or a person related to your spouse?" If you answer YES, it says you cannot claim the $6,500 credit. Does this still apply? Has this changed since December 2009? We are trying to prevent another property from going belly-up, due to no fault of his own, but because his income has been cut in half and can no longer sustain the negative cashflow.

Aurora Pena

February 23, 2010 5:28 PM

I want to know how and if my husband and I can still get started with the contract that needs to be signed by April 30, 2010?

Aurora

February 23, 2010 5:33 PM

I want to know how and if my husband and I can still get started on the contract that needs to be signed before April 30, 2010, and if so what are the requirements needed?

T. Cappo

February 23, 2010 6:41 PM

Ditto @ Kyle

"This is crap for those of us who wanted to help the economy, sold our exisiting homes that we owned for over 5 years; then we bought homes between jan 2009 - 11/5/2009 and we are not eligible for the 6500 refund/credit.

Everyone please call, email or write to your congressman/woman and senators and hopefully it will be retro to 1/1/2009."

T. Cappo

February 23, 2010 6:41 PM

Ditto @ Kyle

"This is crap for those of us who wanted to help the economy, sold our exisiting homes that we owned for over 5 years; then we bought homes between jan 2009 - 11/5/2009 and we are not eligible for the 6500 refund/credit.

Everyone please call, email or write to your congressman/woman and senators and hopefully it will be retro to 1/1/2009."

P. Martin

February 24, 2010 1:55 PM

We lived at our previous home for 5 years and 3 months. We sold it in October of 2008. We bought our new present home in March of 2009. Do we qualify for the $6500 tax credit?

Bart

February 25, 2010 9:49 PM

There indeed seems to be a discrimination against marriage here(agree with Mary-2/20/20). Me and my wife of only 3years are ready to buy a new home but seem to be screwed out of either credit even though I'd be considered a long term owner and she would be a first time homebuyer if we hadn't got married. All the while two "life partners" and certain non-US citizens can get the credit(that we payed taxes to create)! The govt should just let people keep their earned money and spend it as they see fit.

Mary E. Stewart

February 26, 2010 3:11 PM

Purchased and lived in home since 1998. My husband died 6.08. Sold home dec. 08. Built new home and closed on it 12.09. Do I qualify for the 6500 credit and since I efile, can I still do so with turbo tax? If not, what forms are necessary to prove i/we owned home and if I cannot locate (say 1098s) will insurance co. or better yet savings and loan company verification suffice? Thanks so much.

Curtis & Robyn Malbrough

February 28, 2010 9:13 AM

we both just bought a home in Texas in sept2009 we sold our home in Maryland. I have never bought a home on my name so Iam considered first time home buyer. But my wife is considered a 2nd time home buyer now because her name is on the loan ,I dont qualify for the tax break is that correct?

Jennifer

February 28, 2010 4:42 PM

My husband and I built our home from Sept. 2004-Nov. 2005 and moved in November 2005 ( we had a construction loan beginning in 04 which converted to a mortgage when we closed in Nov.2005). We are looking to purchase another home and are expected to close on or about 4/5/10. We do not exceed the wage criteria and will consider this new purchase our primary residence. Do we qualify for the $6500.00 tax credit since we took residence of our current home in 2005 and have lived here ever since?

Robyn

February 28, 2010 6:58 PM

I can't seem to get a clear answer looking at all the websites about the $6500 tax credit. We lived in our previous home for over 5 years and closed on our new home in August of 2009. Do we qualify for the $6500 tax credit?

Keith

March 1, 2010 1:18 PM

we built our home and closed on october 31st, 2009. we owned our previous home for more than 5 years. do we qualify for the 6500 tax credit?

Keith

March 1, 2010 1:18 PM

we built our home and closed on october 31st, 2009. we owned our previous home for more than 5 years. do we qualify for the 6500 tax credit?

PJ Burke

March 1, 2010 2:14 PM

I am a first time home buyer that is purchasing a home that my father and i remodeled together. He bought it and payed for the renovation and now i am purchasing it from him for what he has in it. He is making no profit on the sale of the house. Since i am buying it from a relative, i can not get the $8000 tax credit, so would i be eligible for the $6500 credit?
I see there is $ available but i can see what i am allowed to get since i am buying a house from my father. Again he is not making or losing any money. Please let me know since we are ready to buy whenever. Thanks.

PJ Burke

March 1, 2010 2:14 PM

I am a first time home buyer that is purchasing a home that my father and i remodeled together. He bought it and payed for the renovation and now i am purchasing it from him for what he has in it. He is making no profit on the sale of the house. Since i am buying it from a relative, i can not get the $8000 tax credit, so would i be eligible for the $6500 credit?
I see there is $ available but i can see what i am allowed to get since i am buying a house from my father. Again he is not making or losing any money. Please let me know since we are ready to buy whenever. Thanks.

Roxanne S

March 1, 2010 6:49 PM

I purchased a home in 2002 lived in it until I bought a home and closed in June of 2009 and moved into it. Do I qualify for the $6500 tax credit? Thank you for your attention to this. I am confused about all of the dates.

Scott S

March 2, 2010 9:33 AM

My wife and I subdivided our property we live at and are going to build a dome house from a kit. We had no morgage on current house. December we took out a 1st mortgage on the current house to pay for the new house. The kit for the shell of the dome home will be paid in full in April.
How can we make the 6,500 work for us.
And what is the IRS form to fill out?

Julie

March 2, 2010 9:51 AM

I was divorced in 2006 and decree states husband had full responsibility on home and I signed quick claim deed. He defaulted on payments, bank started foreclosure on Feb. 2007, I filed bankruptcy in May 2007 on loan for home. I am in process of buying a new home and will close by May 2010. Will I qualify for the first time homebuyers tax credit? If so, would I still qualify if I close in April instead of May?

Matt

March 2, 2010 3:39 PM

PJ,

Matt

March 2, 2010 3:44 PM

PJ,

After raising $%$# with the IRS earlier about my similar situation, they tell me that you will NOT qualify for the $6500 because youre buying it from a relative regardless if he will make money or not. Im in the same situation and they would'nt grant me a provision or anything and basically told me the way it is written, that's that. Check out the instructions for form 5405 under "who cannot claim the credit" and read number 9. Also, dont think youre wife can buy it either as they cover that under number 10.

kim

March 3, 2010 9:16 AM

We bought our new home in sept 2009 and we lived in our previous home for 8 years and still own it, do we qualify for the $6500.00 rebate?

kim

March 3, 2010 9:16 AM

We bought our new home in sept 2009 and we lived in our previous home for 8 years and still own it, do we qualify for the $6500.00 rebate?

kim

March 3, 2010 9:16 AM

We bought our new home in sept 2009 and we lived in our previous home for 8 years and still own it, do we qualify for the $6500.00 rebate?

Cheryl

March 3, 2010 9:41 AM

We sold our home we owned for 22 years in August 2009 and moved in with my parents while we are contracting out our new home. We hope to close on our new home the end of April to the first part of May 2010. Do we qualify for the 6500 tax credit and what do we need to do to to make sure we get it if we do qualify? I would really appreciate your help with this as I am so confused. THANK-YOU

Joleen

March 3, 2010 11:08 PM

My mother passed away and left the house in a trust in which my brother and I are executors. Can my daughter and her husband purchase the house from the estate and still qualify for the $6500 rebate?

Joleen

March 3, 2010 11:08 PM

My mother passed away and left the house in a trust in which my brother and I are executors. Can my daughter and her husband purchase the house from the estate and still qualify for the $6500 rebate?

Amy

March 4, 2010 1:12 AM

I lived in my house for over 5 years with my husband. Both names were on the deed and mortgage. We are in a process of a divorce. I bought a house Feb. 26 on my own. He is keeping the other house. We are still considered married. Do I qualify for the 6500 tax credit? My name is on this new house only.

Ashlee

March 7, 2010 6:30 PM

I agree with Mary as well. My husband qualifies for the long term...he has owned and lived in our home for 10 years. I moved in with him 4.5 years ago and we got married. My name is not on any deeds or titles though. I could qualify for the first time home buyer credit if I wasnt married. This is very frustrating that we as married couples dont get anything.

Ashlee

March 7, 2010 6:30 PM

I agree with Mary as well. My husband qualifies for the long term...he has owned and lived in our home for 10 years. I moved in with him 4.5 years ago and we got married. My name is not on any deeds or titles though. I could qualify for the first time home buyer credit if I wasnt married. This is very frustrating that we as married couples dont get anything.

Ashlee

March 7, 2010 6:30 PM

I agree with Mary as well. My husband qualifies for the long term...he has owned and lived in our home for 10 years. I moved in with him 4.5 years ago and we got married. My name is not on any deeds or titles though. I could qualify for the first time home buyer credit if I wasnt married. This is very frustrating that we as married couples dont get anything.

Karla Moreno

March 8, 2010 1:34 PM

We are moving out of town, we live and own our home for 5 years this coming October (2010),, do we qualifie for the credit ?? if we buy a home before May 1st. we don't plan to move right away,, but we are wondering ?? can you help me ? thanks

Karla Moreno

March 8, 2010 1:34 PM

We are moving out of town, we live and own our home for 5 years this coming October (2010),, do we qualifie for the credit ?? if we buy a home before May 1st. we don't plan to move right away,, but we are wondering ?? can you help me ? thanks

Ed

March 8, 2010 1:54 PM

I purchased first home in april 2009, barely over the 150k limitation and did not qualify. Learned about the november 6th extension and limitations increase to $225k joint thinking it would then allow me into the rebate as retroactive. obvioulsy it doesnt. make no sense, how is that an extension if the entire rebate has changed and all the limitations and requirements are different. only thing that stayed the same was the actual rebate offer. someone please expalin how this cant be retroactive...makes no sense. buying a home from dec 1 2008 till april 31st 2010 should all be the same. thanks

Linda

March 8, 2010 9:56 PM

1st time home buyer that closed on home 9-11-2009.... did not qualify for the rebate prior to the change in wage limitations. Now that it has changed, do I qualify or is it only on homes closed after the change in November that count? If so, that does not seem fair. I am still a first time home buyer and because I exceeded the limitation a bit in Sept 2009 when i closed, and they changed in November 2009 - not fair I should lose out. I have not filed my taxes yet in hopes that your reply may clarify. I await a reply.... Thank you.

AJ

March 10, 2010 12:52 AM

I was recently divorced and was not living in or making payments on our house. My wife kept it and made the payments. Even though it was not my residence I was not officially removed from the loan until 12/07. Even though I was not living there and I did not get the interest deduction it is less than three years since I was removed from the paperwork. I am I ineligible? My ex got the whole interest deduction.

AJ

March 10, 2010 12:55 AM

I was recently divorced and was not living in or making payments on our house. My wife kept it and made the payments. Even though it was not my residence I was not officially removed from the loan until 12/07. Even though I was not living there and I did not get the interest deduction it is less than three years since I was removed from the paperwork. I am I ineligible? My ex got the whole interest deduction.

KEN

March 10, 2010 1:09 AM

my wife and i got married at a young age, early on after high school, we struggled as young couple first with a rental house, then into a modular home (a double wide trailer), now after living there for 9 years we decided hey,lets get a new home, so i did... we closed on august 15th 2009. while i was at the closing the realtor and the attourney doing the closing said, you picked a great time to buy, you WILL qualify for the 8000.00 tax credit becuse the government DOESNT COUNT A DOUBLE WIDE TRAILER AS A HOME. so we signed the papers,left the office and moved into our new house which we love.
now here we are 4 months later and i got my taxes done 5 days ago, and now i dont qualify according to my tax lady, because she says my double wide payment is considered a HOME. I NEED TO KNOW IF SHE IS CORRECT, DOES ANYONE KNOW?
I NEED THIS MONEY BAD SO I AM DESERVING OF IT...LET ME KNOW

KEN

March 10, 2010 1:11 AM

my wife and i got married at a young age, early on after high school, we struggled as young couple first with a rental house, then into a modular home (a double wide trailer), now after living there for 9 years we decided hey,lets get a new home, so i did... we closed on august 15th 2009. while i was at the closing the realtor and the attourney doing the closing said, you picked a great time to buy, you WILL qualify for the 8000.00 tax credit becuse the government DOESNT COUNT A DOUBLE WIDE TRAILER AS A HOME. so we signed the papers,left the office and moved into our new house which we love.
now here we are 4 months later and i got my taxes done 5 days ago, and now i dont qualify according to my tax lady, because she says my double wide payment is considered a HOME. I NEED TO KNOW IF SHE IS CORRECT, DOES ANYONE KNOW?
I NEED THIS MONEY BAD SO I AM DESERVING OF IT...LET ME KNOW

Gust

March 10, 2010 12:04 PM

I have owned a home for 6 years and my wife and I have been married for 3 and she has lived in the house with me for five years. Would we qualify for the $6500?, $3250?, or zero?

Thank you,

Gust

James

March 10, 2010 12:26 PM

I have sort of the same situation as Ken but I never had a mortgage on the doublewide and have qualified for a rural loan on my new home because my doublewide was considered inadequate housing. Wasn't sure if we could get the $8000 credit or not? Let me know. Thanks

BF

March 10, 2010 2:00 PM

We are building a new construction, will we need to settle by April 30th or June 30th?

BF

March 10, 2010 2:00 PM

We are building a new construction, will we need to settle by April 30th or June 30th?

Jami

March 10, 2010 3:40 PM

Ken - I am sorry to say it but I also own a mobile home and thought at first that we would qualify, but have since been told by a few difference sources that there is no special provision for mobile homes. Even if you have owned and lived in a houseboat, that counts too. It is unfair because in my state mobile homes that aren't on permanent foundations are pretty much treated as a vehicle.

Erin

March 11, 2010 5:10 PM

We have owned our home for 5 years and 3 months. It just sold and we bought a new house December 09. My husband got a new job in a different state 1 year ago and we stayed at my parents house during the week but went to our home on weekends. We did have our mail changed to my parents so I could pay the bills on the house that we owned. Do we still qualify for the tax credit?

Sara

March 11, 2010 5:40 PM

We purchased our current home July 25th 2005. Is there any scenerio in which we can qualify for the 6,500 credit? Does it go from calandar date to calandar date or what?

Liz

March 11, 2010 6:06 PM

I have lived in/owned my current home since Feb 2005 and am in the process of selling and purchasing another. Does this count as 5 years? If not, is there any tax credits for 2nd time homebuyers? :)

slg

March 12, 2010 12:03 AM

I am wanting to buy one of my parent's home. I have lived in it since 1994-2007, and paid rent- which paid the mortgage payment. I haven't had a mortgage since 1986. I am on the deed of trust of this rental house, but not the note. My parents are 78 and 80. I will probably pay cash for the house- the remaining balance. I don't want to get a home loan. Could u please tell me if I qualify for the tax credit- and the amount. Also we don't want to use a realtor. I am just going to pay off the loan and put the home, taxes in my name. Tell us how to do this and if I qualify for the tax credit and how much.
Thanks

Alyssa

March 12, 2010 10:08 AM

I bought a manufactured home in 2009. I had my grandparents co-sign for me, but on all the paper work it lists them as the co-purchasers. I am the only one living in the house and I make all the payments. Then only reason they co-signed is because I had not built any credit at that time. Will this disqualify me for the tax credit?

christian

March 12, 2010 8:42 PM

I have a question about the 8,000.00 tax return for a 1st time home buyer. i am purshasing a home now and waiting for the bank to sign the contract since it is a short sale. Now my question is has the date changed to have a contract signed on april 30th? and closed on june 30th? To recieve the new homebuyer tax credit?

Susi

March 13, 2010 5:31 PM

we signed closing papers on 11/6/09 but it didn't fund until a few days later, will we qualify for the credit?

Jeff

March 14, 2010 9:39 PM

I lived in my previous house 11 years and purchased another house in October 2005. I am still in the current house. If I sell my current house, do I qualify for the $6500 tax credit? I am getting different answers from different real estate agents.

Rae Oteo

March 15, 2010 11:07 AM

My husband and I have signed a contract and do qualify for the tax credit. The problem is that we are waiting for approval from BOA for the short sale and here in Arizona BOA can take up to 9 months. What are we to do? Do we take the tax credit on our 2009 taxes?

cathy

March 15, 2010 2:14 PM

my brother is getting a divorce. He must buy her out of her share of the house they currently live in. Since a new loan and the deed will be changed into his name, will he qualify as a new home buyer?

Brith

March 15, 2010 2:46 PM

We signed closing papers on 11/6/09. The seller signed on 11/9/09. The HUD settlement statement paperwork was prepared on 11/6/09 and this date is shown in Box I. Our closing agent said they could not update the date to 11/9/09. Made phone calls to HUD and RESPA - no answer from RESPA yet (actually got a recorded answering service). Do you think I have grounds to fight for the $6500 credit? We meet all the other requirements. Any information you could provide would be most helpful. Located in VA.

Brith

March 15, 2010 2:49 PM

We signed closing papers on 11/6/09. The seller signed on 11/9/09. The HUD settlement statement paperwork was prepared on 11/6/09 and this date is shown in Box I. Our closing agent said they could not update the date to 11/9/09. Made phone calls to HUD and RESPA - no answer from RESPA yet (actually got a recorded answering service). Do you think I have grounds to fight for the $6500 credit? We meet all the other requirements. Any information you could provide would be most helpful. Located in VA.

B

March 15, 2010 3:00 PM

We signed closing papers on 11/6/09. The seller signed on 11/9/09. The HUD settlement statement paperwork was prepared on 11/6/09 and this date is shown in Box I. Our closing agent said they could not update the date to 11/9/09. Made phone calls to HUD and RESPA - no answer from RESPA yet (actually got a recorded answering service). Do you think I have grounds to fight for the $6500 credit? We meet all the other requirements. Any information you could provide would be most helpful. Located in VA.

Jen

March 15, 2010 5:40 PM

we bought a house in 2001 as married couple and lived there as our primary house(both of our names were on the title). In Summer 2008, we did a refinance and then I was the only one on the mortgage but still both of our names were on the title for the house. In Oct 2009, in the process of divorce, I refinanced and bought out the house. Since then the house is soly under my name (for both mortage and title). The divorce is finalized in Jan 5th 2010. Am I qualify for the $6500 credits? for 2009 tax return we will file as "married but file seperately", since the divorce is finalized in 2010. Thanks!

Ilana J

March 15, 2010 9:57 PM

We are purchasing a house in Ohio on a land contract. I already filed our 2009 tax return and now need to amend to receive the $8000 tax credit. The question I have is do I need to have a signed Land Contract which should be prepared by the Seller in the next 2 weeks, or can I file amendment now using the signed purchase contract, since we already gave the Seller the down payment?? I cannot seem to find an answer to this question. Any information would be very much appreciated. Thank you very much. Ilana J.

FRED

March 16, 2010 2:20 PM

How about summer homes? We have lived in our primary home since 2003, and we are buying a double wide for a summer home @ the shore this year. Does the summer home qualify for the $6,500 cerdit?

FRED

March 16, 2010 2:25 PM

How about summer homes? We have lived in our primary home since 2003, and we are buying a double wide for a summer home @ the shore this year. Does the summer home qualify for the $6,500 credit?

Lara

March 16, 2010 3:53 PM

I owned a condo for 7 years. I got married in June 2009. My husband has never owned a home. I sold the condo in February and we are in contract to buy a new home closing by 4/15/10. Would we qualify for either the $8000 or $6500 credit? From what I have read it seems we cancel eachother out as we both need to meet the same qualifications. This does not seem fair as we are being disqualified for being married... Please let me know if there is a way to still get any part of these tax credits. Thanks!

Mark

March 16, 2010 6:42 PM

I'm in the process of buying a 2nd home in Florida. I'm going to keep my current home in Wyoming but will use the Florida home in the winter months.

Would this situation qualify for the $6500 credit?

Rudy

March 16, 2010 6:54 PM

Can you qualify for the credit if you sold the primary address to move across the country because of a job?

kris

March 17, 2010 8:04 AM

How much value of the second home should be to get maximum $6500. Can I buy home for $40000 and still get 6500 credit.

krish

March 17, 2010 8:07 AM

Can I buy a house for $40000 still get $6500 second home buyer credit. What is limit of purchse price.

Trevor

March 17, 2010 2:13 PM

My current residence has only been my principal residence for 4 years but I've owned it as a second home for eight years. Would I qualify?

Kelly Caldwell

March 17, 2010 3:54 PM

I bought a home in Feb. of 2007 when I WAS NOT married. After we got married my Husband never signed anything on the house. It is still in my maiden name and I never changed anything with the bank. Now we are looking at a house that we really like. My husband is going to buy it in his name. They say he would not qualify for the first time home buyers tax credit because he is living in our house. We are confused. Is this correct and if so why? Thank you for getting back with me. Kelly Caldwell

Steve

March 18, 2010 10:23 AM

I have a very similar circumstance as Kelly, but I purchased the house when I was not married in 2004. My wife is not on the current mortgage and she is putting the new home in her name. She has lived in the house for 2 years, but has never owned a home. Would we be able to qualify for any credit? Could we file separately and get a portion of the credit?

warren

March 19, 2010 3:35 PM

I have signed my contract for a new home and it is currently being built, Is there a way that I can still qualify considerating that the home is still being built and it will not be finished until the end of july

warren

March 19, 2010 3:36 PM

I have signed my contract for a new home and it is currently being built, Is there a way that I can still qualify considerating that the home is still being built and it will not be finished until the end of july

Ed Townsend

March 20, 2010 4:28 AM

I am buying a house to move into and qualify for the $6500 credit. I cannot move until my present which is on the market sells. I will rent the new house until that happens. How does this affect me receving the credit?

Michelle

March 20, 2010 10:18 AM

My husband has lived in his house for over 5 years, so he should qualify for the $6500 tax credit. I moved in with him almost 2 years ago when we got married. I have never owned a home so I should qualify for the $8000 tax credit. How does that work or do we qualify at all?

Michelle

March 20, 2010 10:18 AM

My husband has lived in his house for over 5 years, so he should qualify for the $6500 tax credit. I moved in with him almost 2 years ago when we got married. I have never owned a home so I should qualify for the $8000 tax credit. How does that work or do we qualify at all?

gordon rognrud

March 21, 2010 3:16 PM

I have lived in a residence for the past 6 years,... just purchased a condo in a community 95 miles from where I presently live (a retirement community) and followed the intent of the new tax credit. I have signed the contract and have closed on the new property 29 January 2010. I will physically move to the new location in June 2010 after I retire from teaching high school. I have the new residence insured, am paying taxes on it,... pay the condo association fees,... have paid the monthly heat ans gas already and have began to move "stuff" into this location. The new census form will be filled out with me at this location,.. my accountant has identifed that I do not qualify for the $6,500 tax credit.
How come?
Gordon Rognrud

gordon rognrud

March 21, 2010 3:16 PM

I have lived in a residence for the past 6 years,... just purchased a condo in a community 95 miles from where I presently live (a retirement community) and followed the intent of the new tax credit. I have signed the contract and have closed on the new property 29 January 2010. I will physically move to the new location in June 2010 after I retire from teaching high school. I have the new residence insured, am paying taxes on it,... pay the condo association fees,... have paid the monthly heat ans gas already and have began to move "stuff" into this location. The new census form will be filled out with me at this location,.. my accountant has identifed that I do not qualify for the %6,500 tax credit.
How come?
Gordon Rognrud

Larry

March 21, 2010 3:50 PM

I closed on my house Dec 10,2008, which tax credit do I qualify for and do I have to repay it?

Rafaela Castro

March 22, 2010 1:14 PM

We are having a home built and signed a construction loan with Bank of the West in Sept 2009. We are already paying on the loan as the builder draws from it. The house will be finished in late August. Can we use the $6500 credit?

Todd

March 22, 2010 5:59 PM

If I closed on a short slae that will be my primary residence in Mid September of 2009 do I qualify for the $6500.00 Tax rebate?

Dona

March 23, 2010 11:19 AM

My daughter just purchased her first home in the city I live in. It won't be her primary residence, but her first-time home purchase. I was told she should qualify for the $6500.00 credit. Is this correct?

Arno

March 23, 2010 5:03 PM

I have lived in a condo for over 7 yeasrs-it was inherited to me,from mom passing-I share ownership with dad. If I were to go and buy a house,would I qualify for a second time tax credit of
6500.00? Let me know. Thanks.

Frank G. Lambdin

March 24, 2010 10:10 AM

My wife and I settled on our present home on April 19, 2005, and hope to purchase another home on or about April 21, 2010. Do we qualify for the $6,500 tax credit? We know it's cutting it close on the 5 year thing. Our realtor said that the government requires the date on the deeds, and not the date on settlement sheet. Is she wrong?
thanks!!

Lisa

March 24, 2010 12:48 PM

I sold my house that I lived in for 20 years 8/2008. I have lived duplex since. I bought a primary residence 3/2010. My questions is: the new primary residence was owned by an LLC that I was a member of. Do I qualify for the $8000 new home buyer credit since I bought it from an LLC that I was a member of? Thanks.

Cliff

March 24, 2010 6:13 PM

Question. We are closing 2 days before our 5 yr mark, the buyers will not budge, are we not quailifed due to 2 days?

Rhonda

March 24, 2010 6:45 PM

I am buying a 2nd home,May 09' but not as a primary residence because I still live in my first house,which I bought in Feb 06',do I qualify?

Terry

March 25, 2010 12:12 PM

My wife and I have owned our home for 12 years. We want to purchase another home in our home state but don't plan on moving there for 3 years. Do we qualify for the $6500.

Thanks,

Stephanie

March 25, 2010 12:50 PM

Hi, I am a single mother of 4. This is my first home that I purchased. I will like to know, Am I qualify for the $6500.00 dollar tax credit??.. I move in my home Oct. 2006 ...

Help

March 25, 2010 12:50 PM

Hi, I am a single mother of 4. This is my first home that I purchased. I will like to know, Am I qualify for the $6500.00 dollar tax credit??.. I move in my home Oct. 2006 ...

Help

March 25, 2010 12:54 PM

Hi, I'm wounding do I qualify for the $6500.00 dollar tax credit? I move in my home Oct. 2006

Mike

March 25, 2010 7:51 PM

I'm wondering this... I qualify for the $6500.00 credit. Is this money a "tax credit" the I can apply towards the taxes I owe or will I get a check for 6500.00 at close? Thanks!

Gloria

March 25, 2010 10:45 PM

Would the 5 year for married couples be as of the close date on the home or will it be as of the end of the year Dec. 2010? My husband has owned our home for 20 years. I have lived in it 4 years and 3 months. We would like to take advantage of the $6500 tax credit. If we close by June 2010, can we get this credit?
Thank you!

Gloria

March 25, 2010 10:45 PM

Would the 5 year for married couples be as of the close date on the home or will it be as of the end of the year Dec. 2010? My husband has owned our home for 20 years. I have lived in it 4 years and 3 months. We would like to take advantage of the $6500 tax credit. If we close by June 2010, can we get this credit?
Thank you!

Tracy

March 26, 2010 9:04 AM

I have a complicated situation and need help determining if I qualify for the First Time Homebuyer Tax Credit. My ex-husband and I bought a home in February of 2003. We physically separated (not a 'legal' separation) in February of 2006 at which time I moved to New York and he continued to reside in the home. As of that date I did not reside in the marital home at any time. On approximately May 1 of 2007, my now ex-husband refinanced the home in "his" name only so that my name was no longer on the mortgage, and he cashed me out for what was my half of the equity at that time. The intention was to file for divorce soon after, but neither followed through, thus we remained physically separated but legally married until April 1 of 2009 when a divorce decree was finally signed by a Judge. I am trying to find our if by the IRS definition I continued to have "ownership interest" in the home based on the fact that we continued to be legally married even though I was no longer on the mortgage as of May 1, 2007. We were married in Utah and resided in Oregon, neither of which are community property states. A further, possible complicating factor is that my ex-husband filed his 2007 taxes as married, jointly so that he could claim me as a dependent, and of course he deducted the home interest on the taxes that year. I had no income to report that entire year so I didn't care. I am now purchasing a home which will close approximately May 29, 2010, so the 3-year criteria (if I was considered to no longer have "ownership" interest as of May 1, 2007 when the home was refinanced into his name only) would be met. Can anyone help me understand if I will or will not qualify for the Homebuyer Tax Credit? Thank you for any insights!

Margie

March 26, 2010 12:25 PM

We bought our second home and closed July 2009. We rent out our other home and reside in our new home. Do we qualify for the $6500.00 repeat buyer tax credit? It seems we have missed the date by four months?

Margie

March 26, 2010 12:25 PM

We bought our second home and closed July 2009. We rent out our other home and reside in our new home. Do we qualify for the $6500.00 repeat buyer tax credit? It seems we have missed the date by four months?

Kathy

March 26, 2010 1:59 PM

My boyfriend is a 1st time homebuyer closing on a house 4/28. I currently own a house and it will be going up for sale soon and then we will get married this summer. Will my current homeowner status affect his $8k tax credit if we get married this year? I will not be added to the house paperwork until next year.

Sue

March 27, 2010 1:46 AM

I believe that your boyfriend can claim the first-time homebuyer credit if he purchases the home before you get married and if you do not purchase the home. You cannot be married at the time or you will be disqualified because it will not be a first-time purchase for you as a couple. File separately for that year, because he will qualify for the credit, and you will not.

Sue Blake-Bundy

March 27, 2010 2:35 PM

My husband/I purchased a townhouse in MO in October 2009 and closed on 11/03/2009. When we had our 2009 taxes done by an accountant, she informed us that, had we closed four days later, we would have qualified for the $6,500 tax rebate credit. Do we have legal recourse against our real estate agent in not disclosing to us the information on the $6,500 tax rebate?

Locotx

March 27, 2010 5:49 PM

That's a great point. We just found out we couldn't qualify for either the $8000 or the $6500 credit because we purchased in July 2009, when the economy hurting bad. We sold and bought in the summer of 2009 and we should qualify for this credit.

kenny

March 27, 2010 6:59 PM

i built a house i sign contact in march and it not going fishing in september 2010. do i still qualify for the 8000 tax credit? thank you

Julie

March 27, 2010 7:07 PM

Does anyone know how long it's taking the government to send you your check with an amended tax form for the $6500 housing tax credit? 2-3 weeks, 4-6 weeks, next year????

Darlene

March 28, 2010 6:31 PM

need some help. We purchased a house in 7/05 and have had to move for work. Our house is a rental - we are in the process of buying a new house would we qualify for the 6500. tax credit?

Rick

March 30, 2010 11:50 AM

We sold our house that we lived in for 6 years on 27 OCT 09. We closed on the new house on 29 OCT 09. We had no knowldge that this tax credit would be available.
My question is, I am in the Military and was ordered to move (PCS). Is there a provision that covers pelople like me that closed a few days early in where the move was forced by the GOV?

andrew_seidman

March 30, 2010 6:50 PM

We are in contract and about to purchase our first home. However, my parent's are cosigning because we don't have solid enough financial background to qualify for a large enough loan. Because of the co-signers, who are already homeowners, can we qualify for the credit?
No body has been able to answer this question yet.
Should I just attempt to file the paperwork for the credit and let them decide?
ANy info would be extremely helpful.

Vicky

March 31, 2010 1:32 AM

Okay people it's really not hard to read you must OWN your home,and have lived in your home at least 5 years.
You can not have received from or purchased from a relative.
If your spouse purchased this home and married you but lived in the home at least 5 years your spouse qualifies , unless your spouse made over $150.000.
If your home cost more than $800.000 you do NOT qualify.
If you have a mortgage you do NOT qualify.
If you purchased your home with in the past 3 years you do Not qualify.
If you and your spouse divorced and you sold the house you do not qualify.
If your spouse got the house and lives in the house and has lived there at least 5 years your spouse qualifies.
This must be your PRIMARY residence. Means you have to live in this house.
If you bought your house in 2009 you received an $8000.00 tax break.
(don't get greedy)
I feel as though I should also add if you have to keep asking questions after reading, you might be a red neck.

Tim W

March 31, 2010 11:28 AM

I bought a home from my deceased mother's estate. Paid market value. The 5 children were beneficiaries of her small estate. Do I still qualify for the home buyer tax credit?

Heather

March 31, 2010 12:02 PM

My boyfriend and I are buying a new construction home that his father is building. I know he doesn't qualify for the credit since he's buying it from a relative, but can I still get it even if both of our names are on the mortgage?

(I've read that if one unmarried doesn't qualify, the other one can still claim the credit if they still qualify; but I wasn't sure if that went for the "relative" clause or just previous homeownership.)

Heather

March 31, 2010 12:03 PM

My boyfriend and I are buying a new construction home that his father is building. I know he doesn't qualify for the credit since he's buying it from a relative, but can I still get it even if both of our names are on the mortgage?

(I've read that if one unmarried doesn't qualify, the other one can still claim the credit if they still qualify; but I wasn't sure if that went for the "relative" clause or just previous homeownership.)

Shannon

April 1, 2010 9:38 AM

I have a question. I didnt own the home I sold till 2007 but I lived there for over 30 years. I just bought a new place 12/09. Do I still quaify for the $6500 credit. I am confused on this. I was under the impression I didnt qualify for any of these credits. Help someone.

Shannon

April 1, 2010 9:38 AM

I have a question. I didnt own the home I sold till 2007 but I lived there for over 30 years. I just bought a new place 12/09. Do I still quaify for the $6500 credit. I am confused on this. I was under the impression I didnt qualify for any of these credits. Help someone.

Mary

April 1, 2010 11:08 AM

Hello-
My husband co-own a house with my father-in-law from 5/12/2003 to 5/27/2008 in Stow, OH. Now, we bought a house at Coppell, TX. Does he qualify for $6500 credit? the house will be closed on 4/29/10...any help is greatly appreciated!!

Mary

Liry

April 1, 2010 2:31 PM

This Website was SO helpful. I couldn't find this info on the IRS website and I found you guys on Google. Thank You!!

Denise

April 1, 2010 2:57 PM

My husband and I were in our home for 17 years and sold it in Aug. 2009 and bought an esisting home the same month, would we quilify for the $6500 tax credit? Thank you

pat

April 1, 2010 2:59 PM

I have a question, I purchased a second home in Sept of 09 and I'm woundering if I qualify for the $6,500 tax credit.I own my first home that I'm presently living in for the last 15 years

Thank you
Pat

Laura

April 1, 2010 8:31 PM

We are closing on our house in NY on May 14. We closed on our house in FL on June 9, 2005 Will we be able to qualify? Also, we are underwater on the FL home and plan to rent it. Does that have any affect on the tax credit?

Joyce

April 2, 2010 8:01 AM

My husband & I own a home in Ohio (10 years). In June 2008 we purchased a new primary home in Florida, making the ohio home a second - we stay there several weeks a year, while visiting family. The question of course: Are we eligible for the 6500.00 credit for the Florida home?

Joyce

April 2, 2010 8:07 AM

My husband & I own a home in Ohio (10 years). In June 2008 we purchased a new primary home in Florida, making the ohio home a second - we stay there several weeks a year, while visiting family. The question of course: Are we eligible for the 6500.00 credit for the Florida home?

heej

April 3, 2010 11:12 PM

My husband and I owned a house in Iowa Aug 2003. We lived there until Feb 2007.
We moved in Maine 2007. We live in a rent house until now. We sold the Iowa house on May 2008. If we buy a house now, Are we qualified for the first time buyer or the $6500 credit?

tammy

April 4, 2010 11:31 PM

i am a single mom and just bought my 1st home in august 2009, i was denied the 8000 tax credit because in 2007 i filed joint tax return with my estranged husband..he was the homeowner and I held no interest in the home nor did I live there, is this the law or should I appeal

Linda Warner

April 5, 2010 2:28 PM

My husband & I sold a home after 32 years to downsize. We lived in the smaller home for 2 years, but were really not happy there. Due to the econmy we took a slight loss. In Nov. of 2008 we moved in with our children because our home sold so fast. We purchased a fixer upper home in June of 2009. And moved into it at that time. Would we qualify for the $6500??

Gary

April 5, 2010 3:50 PM

Can I claim Long Term Resident Credit of $6,500 if I bought a new house (principal residence) and closed in July 2009. (i.e. after November 6, 2008 but before November 6, 2009)and meet all other criteria?

Thanks.

Stone

April 6, 2010 3:39 AM

I purchased my current house in 1994 and have been living in it for 16 years. I just bought another house in March 2010. If I don't use the new purchased house as my primary residence, do I qualify with the $6500 tax credit?

Stone

April 6, 2010 3:45 AM

I purchased my current house in 1994 and have been living in it for 16 years. I just bought another house in March 2010. If I don't use the new purchased house as my primary residence, do I qualify with the $6500 tax credit? Thank you!

jeff

April 6, 2010 7:10 AM

We have lived in our house 19.5 years. We refinanced 3 times, most recently 3 yrs ago. We are going to buy my wife's parents house from the estate. Do we qualify for the 2nd time home buyers $6500.00?

jeff

April 6, 2010 7:10 AM

We have lived in our house 19.5 years. We refinanced 3 times, most recently 3 yrs ago. We are going to buy my wife's parents house from the estate. Do we qualify for the 2nd time home buyers $6500.00?

Diane

April 6, 2010 12:44 PM

Would we qualify for the $6,500. tax credit if we purchased our home in 11/2003 & sold it 12/9/2009 & bought a new house on 11/6/2009? Wasn't there a tax credit passed in 2007 that would apply, as we closed on our new house 11/6/2009 which was the day that the new tax credit bill was passed?
Thanks,
Diane

Andy

April 7, 2010 11:45 PM

There have been rumors that a December 2010 extension is a possible - http://www.savingtoinvest.com/2010/04/2010-home-buyer-credit-expiration-key.html - but no one knows for sure. The recent strong housing data suggest that the credit will not be extended as the Obama administration wants to try and rein in government spending (or at least give that impression). However with the economic recovery still fragile, many in the real estate industry want to see the home buyer credit extended past this summer.

Andy

April 7, 2010 11:47 PM

There have been rumors that a December 2010 extension is a possible - http://www.savingtoinvest.com/2010/04/2010-home-buyer-credit-expiration-key.html - but no one knows for sure. The recent strong housing data suggest that the credit will not be extended as the Obama administration wants to try and rein in government spending (or at least give that impression). However with the economic recovery still fragile, many in the real estate industry want to see the home buyer credit extended past this summer.

Jeff

April 8, 2010 7:06 AM

I have owned my home and lived in for 6 years. I pay my mortgage on time along with my bills. I am a high middle income single person. Why do all these favors seem so against those of us who do the right thing? Where the heck is our credit for carrying the burden of those who do not do the right thing! Those who work hard, pay their bills, seem to be the penalized ones something is really wrong with this picture.

Alan

April 8, 2010 8:01 PM

owned home for 17 years. Have home being built in another state as week speak. closed a few months ago. Not moving until summer. Qualify???

Alan

April 8, 2010 8:01 PM

owned home for 17 years. Have home being built in another state as week speak. closed a few months ago. Not moving until summer. Qualify???

Alan

April 8, 2010 8:01 PM

owned home for 17 years. Have home being built in another state as week speak. closed a few months ago. Not moving until summer. Qualify???

Sally Mapile

April 8, 2010 9:50 PM

I sold my house in August of 2009, I had lived in it for 20plus years. I closed on my new home Oct 1st 2009. Do I qualify for the $6,500 tax credit?

Brian

April 8, 2010 10:05 PM

I have ownned my home since 1993, do I qualify for the 6500.00 tax credit?

Terry

April 8, 2010 10:53 PM

I sold my house November 1 2009. I lived in it 5 of the last 8 years. I am a residential home builder. Can I build my own home or do I have to have a contract with another home builder to get the $6500 tax credit?

Tom

April 9, 2010 2:07 PM

My wife & I have owned our home > 5yrs, are withing the income limits, and are getting a divorce. If we each buy a new home (sign by 4/30 & close by 7/1) can we each get a $6,500 credit when we file as single for 2010? Thanks.

wilfred madelle

April 10, 2010 11:06 AM

ihave an aggrement on a second home in fl.my price was excepted.the realtor told me they can't promis me that it will be closed by 6/30/2010.buy the way this is a cash deal.it was a short sale.it dosen't seem fair that if the bank doesn't there work in time that i should loose the $65,000 tax rebate.

wilfred madelle

April 10, 2010 11:06 AM

ihave an aggrement on a second home in fl.my price was excepted.the realtor told me they can't promis me that it will be closed by 6/30/2010.buy the way this is a cash deal.it was a short sale.it dosen't seem fair that if the bank doesn't there work in time that i should loose the $65,000 tax rebate.

wilfred madelle

April 10, 2010 11:06 AM

ihave an aggrement on a second home in fl.my price was excepted.the realtor told me they can't promis me that it will be closed by 6/30/2010.buy the way this is a cash deal.it was a short sale.it dosen't seem fair that if the bank doesn't there work in time that i should loose the $65,000 tax rebate.

Patrick McKee

April 10, 2010 11:55 AM

Due to the death of our original spouses,my present wife & I are in a 2nd marriage. I sold my home in 2006 and moved to her home in Michigan that she still owns. We have a contract on a home jointly in Florida that will close on may 30th. We will only live there for 5-6 months every year. Will I be able to claim the tax credit if both of our names are on the title? Does the Florida home have to be a primary residence? She presently claims her MI home as her primary residence.

Christina

April 11, 2010 12:53 AM

Hello, I have a question also, and I was wondering if you are answering these questions by email?

Christina

April 11, 2010 12:55 AM

I don't see my question on this page?

Brad Sampson

April 11, 2010 4:20 PM

If i bought a house in 2010 in March can i put that on my 2009 tax return or do i have to wait until next year to do that?

Bob

April 11, 2010 8:16 PM

i lived in the same house since dec. '01. i bought it january25th '08. i'm still there.. do i qualify for any tax credits?

Jennifer

April 12, 2010 12:12 AM

My husband and I closed on our first house January 2008...but apparently in order to qualify for the $8000 first homeowners credit it had to have been purchased after April 2008....so does this mean we fell through the cracks..and ended up getting screwed???? If so, I'm highly upset!!!

Jennifer

April 12, 2010 12:12 AM

My husband and I closed on our first house January 2008...but apparently in order to qualify for the $8000 first homeowners credit it had to have been purchased after April 2008....so does this mean we fell through the cracks..and ended up getting screwed???? If so, I'm highly upset!!!

Jennifer

April 12, 2010 12:12 AM

My husband and I closed on our first house January 2008...but apparently in order to qualify for the $8000 first homeowners credit it had to have been purchased after April 2008....so does this mean we fell through the cracks..and ended up getting screwed???? If so, I'm highly upset!!!

Jennifer

April 12, 2010 12:12 AM

My husband and I closed on our first house January 2008...but apparently in order to qualify for the $8000 first homeowners credit it had to have been purchased after April 2008....so does this mean we fell through the cracks..and ended up getting screwed???? If so, I'm highly upset!!!

Jennifer

April 12, 2010 12:12 AM

My husband and I closed on our first house January 2008...but apparently in order to qualify for the $8000 first homeowners credit it had to have been purchased after April 2008....so does this mean we fell through the cracks..and ended up getting screwed???? If so, I'm highly upset!!!

Lynette

April 12, 2010 12:08 PM

We lived in our home for 34 years. Bought a condo that closed June 1, 2009. We are using the condo as our primary residence. Do we qualify for the $6500 tax credit?

Lynette

April 12, 2010 12:08 PM

We lived in our home for 34 years. Bought a condo that closed June 1, 2009. We are using the condo as our primary residence. Do we qualify for the $6500 tax credit?

Lynette

April 12, 2010 12:08 PM

We lived in our home for 34 years. Bought a condo that closed June 1, 2009. We are using the condo as our primary residence. Do we qualify for the $6500 tax credit?

Faye

April 12, 2010 3:24 PM

My husband and I bought a primary residence June 1999, then sold it and moved June 2006. We purchased our new home (another city) in August 2006. We are now moving (husband is United Methodist clergy)to another city. We have signed a purchase agreement and this home is to close June 15. As I understand it, we wouldn't qualify for the $6,500 on the August 2006 purchase as we haven't been in the house for 5 years. Would we qualify for the $6,500 based upon the primary residence June 1999 to June 2006? Thank you.

kathy

April 12, 2010 6:49 PM

It sucks big time I bought a house and closed on Oct.27,2009 when filing taxes was informed I closed ten days to early .The govt should of just backed the day up to when it was to expire the first time.I am a widow and could of used the money.Not fair but found out life isn't fair when my husband died of lung cancer at the age of 51 after being diagnoised 5 and 1/2 weeks.But if anyone knows where we can write to complain I'm sure I am not the only person who missed out ,let me know.

Chris

April 13, 2010 11:19 AM

I purchased my house in 1986, I have lived there 24 yrs. I got married in 2008 to a man who has never purchased a house before. We just bought a house together, he does not qualify for the 8000 first time buyer because I have bought before, I do not qualify for the 6500 because he has never bought a house before. Sounds like alot of double talk to me.

HC

April 13, 2010 1:54 PM

I read most of the post and have seen some conflicting info. I have been living in my house that I bought 8 years ago full time and I have a mortgage? Do I qualify? I saw a comment saying that if I had a mortgage I would not qualify. Please clarify. Thank you in advance.

Simone

April 13, 2010 7:41 PM

We bought our first home in 1971 and lived in it until Oct. 2009. We closed on our new home in Oct. 2009. Do we quality?

Simone

April 13, 2010 7:41 PM

We bought our first home in 1971 and lived in it until Oct. 2009. We closed on our new home in Oct. 2009. Do we quality?

Marsha Franzen

April 13, 2010 7:45 PM

I have lived in a home for 25 years and now just sold that and built a new one. Does building a new home qualify for the $6500 tax credit.

Carl

April 14, 2010 8:55 AM

My wife and I live in our previous resident for more five years. We sold it and we recently purchased a home from her exhusband of which her name was on the original loan. Do we qualify for the $6500 tax credit?

Lillian

April 14, 2010 10:39 AM

Do we qualify for home tax break if we purchase home in 2005

Lillian

April 14, 2010 10:39 AM

Do we qualify for home tax break if we purchase home in 2005

Lillian

April 14, 2010 10:39 AM

Do we qualify for home tax break if we purchase home in 2005

Lillian

April 14, 2010 10:39 AM

Do we qualify for home tax break if we purchase home in 2005

Lillian

April 14, 2010 10:39 AM

Do we qualify for home tax break if we purchase home in 2005

Lillian

April 14, 2010 10:54 AM

Do we qualify for home tax break if we purchase home in 2005

Annette

April 14, 2010 12:14 PM

Hi,
I own a condo and it was my primary residence for 8 years until November 5, 2009 (I rent it now). I closed on my new house on November 6, 2009 and is now my primary resident. Do I qualify for the $6500 tax credit IF I CLOSED ON 11/6/2009 and not after? It's very confusing.

Patsy

April 14, 2010 6:46 PM

I am putting up a modular home and will have contract signed for the home by April 30th.. Do I have to pay in full before the June 30th deadline and do I have to have home on the land to be eligible for the 6500.00 tax credit.. too much info to take in in a short time..

Donna

April 14, 2010 10:58 PM

We bought our first home in 2006. We bought another home in May 2009 - renovated it and moved into it in August 2009. We did not sell the other home. We have just began renting it as of April 12, 2010. Do we qualify for the $6500 tax credit?

Andrea Chapman

April 15, 2010 12:29 PM

I bought my first home in November 2007 do i qualify for a tax credit? and if so how would I claim it?...since I was unemployed for pregnancy all of 2009 and did not have to file taxes.

victor Gonzalez

April 15, 2010 2:35 PM

I lived in my house for more than 10 years, this is my resident and only home do I qualify for the credit?

MARIANNE

April 15, 2010 8:11 PM


MY HUSBAND AND I PURCHASED OUR SECOND HOME MAY 22ND OF 2009...DO WE QUALIFY FOR THE $6500? WE OWNED OUR FIRST HOME FOR 9 YEARS.

MARIANNE

April 15, 2010 8:11 PM


MY HUSBAND AND I PURCHASED OUR SECOND HOME MAY 22ND OF 2009...DO WE QUALIFY FOR THE $6500? WE OWNED OUR FIRST HOME FOR 9 YEARS.

MARIANNE

April 15, 2010 8:11 PM


MY HUSBAND AND I PURCHASED OUR SECOND HOME MAY 22ND OF 2009...DO WE QUALIFY FOR THE $6500? WE OWNED OUR FIRST HOME FOR 9 YEARS.

MARIANNE

April 15, 2010 8:11 PM


MY HUSBAND AND I PURCHASED OUR SECOND HOME MAY 22ND OF 2009...DO WE QUALIFY FOR THE $6500? WE OWNED OUR FIRST HOME FOR 9 YEARS.

MARIANNE

April 15, 2010 8:11 PM


MY HUSBAND AND I PURCHASED OUR SECOND HOME MAY 22ND OF 2009...DO WE QUALIFY FOR THE $6500? WE OWNED OUR FIRST HOME FOR 9 YEARS.

Michele

April 18, 2010 9:21 AM

If I am currently divorced, lived outside the marital home for a year and a half, and my name was only on the deed of the marital home (which was sold in Feb), do I qualify for anything?

Darrell Walters

April 19, 2010 2:56 PM

My Daughter is graduating Med school this month and is headed to Vanderbilt. She signed a contract on a condo this weekend. She has had 0 income for the last 4 years and was claimed on taxes by her mother. Will her mother have to refile without claiming her for her to qualify?

Thanks for your help

Darrell Walters

April 19, 2010 2:56 PM

My Daughter is graduating Med school this month and is headed to Vanderbilt. She signed a contract on a condo this weekend. She has had 0 income for the last 4 years and was claimed on taxes by her mother. Will her mother have to refile without claiming her for her to qualify?

Thanks for your help

Darrell Walters

April 19, 2010 2:56 PM

My Daughter is graduating Med school this month and is headed to Vanderbilt. She signed a contract on a condo this weekend. She has had 0 income for the last 4 years and was claimed on taxes by her mother. Will her mother have to refile without claiming her for her to qualify?

Thanks for your help

Alice

April 20, 2010 11:22 AM

I bought my home in 1979 and lived there since then. Due to deteriation I had to move out in Sept. 2009 and it was torn down in Mar. 2010. I am in the process of purchasing a new mobile home. Do I qualify for the $6,500 tax credit if I have a signed sales contract by April 30 and close by June 30, 2010?

Alice

April 20, 2010 11:22 AM

I bought my home in 1979 and lived there since then. Due to deteriation I had to move out in Sept. 2009 and it was torn down in Mar. 2010. I am in the process of purchasing a new mobile home. Do I qualify for the $6,500 tax credit if I have a signed sales contract by April 30 and close by June 30, 2010?

Bob

April 21, 2010 4:13 PM

We’re considering a sales contract where the current owner would lease the property from us for approximately 1 year. We would not make it our “permanent residence” until after that first year. Would this situation exclude us from the 6.5k tax credit?

Sarka

April 22, 2010 5:56 PM

Me and my husband purchased our new home
in Jan. 2008 Do we qualify for the $6500
tax credit?

Sarka

April 22, 2010 5:56 PM

Me and my husband purchased our new home
in Jan. 2008 Do we qualify for the $6500
tax credit?

Jody

April 22, 2010 10:14 PM

I bought my house 7 years ago. My husband moved in with me 4 years ago but was never put on the mortgage. I am the only person on the mortgage application for the new house. We did file taxes together this year. Do I qualify for the tax credit?

Post a comment

 

About

BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

BW Mall - Sponsored Links

Buy a link now!