Can the first time home buyer tax credit of 7500 be used for a Condo?
First time Home buyer
Sep 03, 2008
3 Replies
Yes, but it is still not an actual credit. It's a 0-interest loan.
Why don't we say "it depends"?
If the condo is a second residence, then the answer is no. It's only for the principal residence of a first time home buyer, defined as someone who hasn't owned a principal residence in the last three years.
ChEAr$, Harlan Lunsford, EA n LA
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