Find solution
$8000 first time home buyer tax credit?

If one received the $8000 First-Time Home Buyer's Tax Credit, how long must he wait to sell the house?

  • What is the length of time required to own the home until he is no longer liable to refund the tax credit?

  • Answer:

    3 years

ace at Yahoo! Answers Visit the source

Was this solution helpful to you?

Other answers

3 years is correct..

It's a minimum of 3 years. However, 3 years from when can be problematical. 3 years from date of purchase may be 'official,' but if it is within 3 tax years, you can expect a thorough inspection of your return and a high probability of an audit. So if you closed in, say, 2009 and it was on your 2009 taxes filed in 2010, you had best consider waiting to sell until 2013 after you file 2012 taxes. If you sold in 2012, that year's return would likely be audited. Keep your paperwork and be very, very careful. There was a great deal of fraud involved with that homebuyers tax credit, and the IRS has gotten very sticky & persnickety about it. Better to be safe than sorry.

3 years. Ignore the tax year answer. It is 36 months from buying it.

Related Q & A:

Just Added Q & A:

Find solution

For every problem there is a solution! Proved by Solucija.

  • Got an issue and looking for advice?

  • Ask Solucija to search every corner of the Web for help.

  • Get workable solutions and helpful tips in a moment.

Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.