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Answers (4)
Best Answer
- Nicholas Tukmanian, "NickTukmanian"
- Contributions:42
I tried to see if I could find some information for you, even checked the IRS site, but I was not able to find anything. I don't think this is going to affect you, because you could own an LLC for a variety of purposes. It doesn't seem logical, maybe they are referring to the fact that they don't want homeowners to use the residence to conduct business (where clients come in, etc.) Good luck.
- Frank Festa, "Frank J Festa"
- Contributions:1188
First, what did your attorney tell you? Regards,
- firstimehomeowner
- Contributions:2
Yes. We received the credit right after tax season. A few mos ago, we registered an LLC using our home address but have yet to earn anything from it anyway. But just yesterday, we got a letter from the IRS about the tax credit and one of the items says that we would be disqualified if we put up a business in our home and we'd have to pay the amount back. So now I am worried we'll have to give it all back.
- Frank Festa, "Frank J Festa"
- Contributions:1188
First, are you a home buyer in this market? Regards,
Does putting up an LLC using our home address disqualify us from the first time homebuyer tax credit
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