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cscallan · Joined: 24 Sep 2009 Posts: 1 1.29 Dollars($)

I purchased a mobile home but not the land. Bought
a new home with land this year. Lending company
told me that since I owned a Title and not a Deed
I was entitled to the home buyers credit for 2009.
Is this corrrect? Thanks for your help.

gmakerley · Posted: Thu Sep 24, 2009 7:02 am Post subject:

direct from the instructions on Form 5405:

"You are considered a first-time homebuyer if: You purchased your main home located in the United States after April 8, 2008 and before December 1, 2009. You (and your spouse if married) did not own any other main home during the 3-year period ending on the date of purchase."

it then goes on to define a Main home in this manner: your main home is the one you live in most of the time. It can be a house, houseboat, [/b]housetrailer, cooperative apartment, condominium, or other type of residence.

i highlighted "housetrailer" because i believe that would be taken to mean mobile home. based on all this, i would have to give you my opinion that you're not going to be eligible for the credit.

to obtain absolute certainty, you ought to check with your tax advisor, or the irs directly.

gmakerley · Posted: Thu Sep 24, 2009 7:03 am Post subject:

i guess i didn't use my "highlighting" skills to the utmost, did i?

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title vs deed home buyers credit