Back to Results
I carefully read the rules on receiving the first-time home buyer's tax credit before recently purchasing my primary residence and I was confident that I qualified. I own a home in California that I have rented for the past 4 years. I have reported the rental income which was offset against the mortgage interest and property taxes I paid.Today, I received a letter from the IRS that my claim was disallowed with the following explanation:
"Our records indicate that you have mortgage interest for 2006, 2007 and 2008. To qualify for the first time homebuyers credit, you must not have had any home ownership for the three years prior to the date of your new home purchase. Therefore, your claim has been disallowed."
How can they say this? Everywhere else it clearly says that one must not own a primary residence for the previous three years – not that no home ownership at all is allowed.
Please enter a valid email address.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.
Please enter text in the "Enter the text to display" field.
Please enter text in the "Enter URL" field.
Please enter a valid URL.
Please insert a video embed only
Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.
For Sale: $849,000
For Sale: $200,000
For Sale: $560,000