I am selling a duplex with a zero lot line so it sells as two separate lots.

Profile picture for alawil
If each side sells for $80,000, and I purchase a condo for $120,000, do I qualify for a 2nd homebuyer govt. tax credit?  I lived in and owned the duplex 16 years.
Thanks, Alan
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November 19 2009 - Green Bay
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Profile picture for phessling
My understanding is that the tax credit is based on the purchase of a primary residence.  You do not need to sell your current residence to qualify, in fact, you could change it to investment property.  Good luck with the sale of the duplex.
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November 19 2009
 

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