Posted on: 11th Jun, 2009 05:05 pm
Please help me define what is three years. Are they counting months or days? For example, if I sold my last home on 22 July 2006 and will close on my next home on 29 June 2009, do I meet the 3 year criteria?
Please post answer to my email address also.
"danny.bordeaux@us.army.mil"
Thank you, Danny
[size=9:225ce026aa][color=Red:225ce026aa][Email address deactivated as per forum rules][/color:225ce026aa][/size:225ce026aa]
Please post answer to my email address also.
"danny.bordeaux@us.army.mil"
Thank you, Danny
[size=9:225ce026aa][color=Red:225ce026aa][Email address deactivated as per forum rules][/color:225ce026aa][/size:225ce026aa]
danny
Welcome to the forum
Yes they will be probably counting is days. Since you are so close, if you can delay your closing by 4 weeks, then you be in a good situation.
You donot want to lose that $8000 just becuase you were short by 1 month.
Good luck and feel free to ask
Welcome to the forum
Yes they will be probably counting is days. Since you are so close, if you can delay your closing by 4 weeks, then you be in a good situation.
You donot want to lose that $8000 just becuase you were short by 1 month.
Good luck and feel free to ask
Also some of the guidliens for the $8000 credit
The tax credit is for first-time home buyers only. For the tax credit program, the
IRS defines a first-time home buyer as someone who has not owned a principal
residence during the three-year period prior to the purchase.
-The tax credit does not have to be repaid, if you stay in the house for atleast 3
years.
-The tax credit is equal to 10 percent of the homes purchase price up to a maximum
of $8,000.
-The credit is available for homes purchased on or after January 1, 2009 and before
December 1, 2009.
-Single taxpayers with incomes up to $75,000 and married couples with incomes up to
$150,000 qualify for the full tax credit.
-For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse
Good luck and feel free to ask
The tax credit is for first-time home buyers only. For the tax credit program, the
IRS defines a first-time home buyer as someone who has not owned a principal
residence during the three-year period prior to the purchase.
-The tax credit does not have to be repaid, if you stay in the house for atleast 3
years.
-The tax credit is equal to 10 percent of the homes purchase price up to a maximum
of $8,000.
-The credit is available for homes purchased on or after January 1, 2009 and before
December 1, 2009.
-Single taxpayers with incomes up to $75,000 and married couples with incomes up to
$150,000 qualify for the full tax credit.
-For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse
Good luck and feel free to ask
It includes day counting.
Yup you would be eligible for the credit after that date.
Yes you will get the tax credit if you close any day after the 3 years have passed.