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Who qualifies for the first-time home buyer $8,000 tax credit?

April 26, 2017buyer first-time Home qualifies tax credit

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Who qualifies for the first-time home buyer $8,000 tax credit?

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A first-time homebuyer is defined as someone who has not owned a primary residence for at least a 3 year period prior to the purchase of a home. In the case of a married couple, neither one of them can have owned a primary residence for three years to qualify as first-time homebuyers. However, ownership of a vacation home, rental home, or any home not used as a primary residence will not disqualify you. Be sure to consult your tax advisor to determine if you qualify.