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aalovely1 · Joined: 23 Oct 2009 Posts: 1 1.25 Dollars($)

SOMEONE QUIT DEED A PROPERTY THAT SHE NO LONGER WANTED OVER TO ME . SO SINCE IT GIVEN TO ME AM I ABLE TO APPLY FOR THE $8000 TAX CREDIT

savior70 · Posted: Fri Oct 23, 2009 6:37 am Post subject:

Hi aalovely,

You are not eligible for the first time buyer tax credit. You are not purchasing the property, you're simply getting it transferred to you through a quitclaim deed. This is why you do not qualify as a first time buyer and hence, cannot claim the tax credit. To qualify, you need to buy a property and you must not have any other prinipal residence within the past 3 years.

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IF SOMEONE TRANSFER A PROPERTY TO ME WILL THAT MAKE ME ELIGIBLE FOR THE $8000 TAX CREDIT