Clear Answer to $8000 Tax Credit Common Question

Profile picture for ohiosmitty
Just some useful FYI Info To Professionals and Home Buyers:

I've seen this similar question/scenario asked a few times without a clear answer...some saying Yes and some saying No...both without any references.

Q: Can I qualify for the $8000 First time home buyer tax credit if my rental of 3 plus years was previously my main home and I haven't owned and occupied any other homes in the past 3 plus years.

According to the IRS, you are considered a first time home buyer eligible for the tax credit in this type of scenario!
Click here for the IRS web page and read scenario 3.

Hope this helps someone! (it was the answer a customer of mine was looking for!)

Remember...I'm NOT a tax adviser!
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May 05 2009 - US
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Wow ! what is a good news.

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May 05 2009
 
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