Is our daughter considered a 'first time home buyer' for the purpose of the 8,000 tax credit?

Profile picture for reggie15
We purchased a condo six years ago and added our daughter's name to the deed.  We paid cash for the condo - we paid the homeowners and the taxes, and she lived there and paid us rent.  She now wants to purchase a home.  Can she be considered a first time home buyer?   She moved out of the condo 1.5 years ago. 
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September 27 2009 - Livermore
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Answers (5)

Profile picture for Ivy LoGerfo
Your daughter will not be eligible for the first time home buyer tax credit.  However, If she buys the home with someone who is then they can apply and split the credit.
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October 19 2009
While I'm certainly no IRS expert, the definition of a first time homebuyer is someone that has not owned a principal residence in the last 3 years.  She occupied a residence that she owned (her name was on the deed) up until 1.5 years ago, so most likely no, she is not eligible for the tax credit.
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September 28 2009
Profile picture for asugradinwa
If her name was on the deed she will not qualify for the credit.
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September 28 2009
if your daughter lived in the condo during the last 3 years, which your question implies she did, No she will not qualify.
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September 27 2009
Profile picture for wetdawgs
If her name was/is on the deed, she will not be a first time home buyer. 

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September 27 2009
 

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