This is in ref. to the 6500.00 tax credit when buying a home. I sold my last house on june 5 of 2007. I purchased again on august 31 of 2009. Would i qualify for this credit since I owned in 5 of the last 8 years?
I've already tried...
H&R Block has been doing my taxes for years and they tell me that since the bill did not go into effect until 11-06-2010 I could not and would not be entitled to the credit.
My is if it goes back 8 years that would certainly qualify me still ... Am I wrong to assume that?
Answers
Expert
In reading the regulations, you would in fact qualify for the credit, provided you have tax liability for 2009.
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This time Joe is incorrect. The new law came into effect on 11-06-2009, so you would have to had purchase after that date to qualify for the Credit. visit this link:
http://www.irs.gov/pub/irs-pdf/p4819.pdf by the IRS.
Sorry to give this news.
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