Is Our Daughter Considered a ‘First-Time Home Buyer?’

September 29, 2009

“Is our daughter considered a ‘first time home buyer’ for the purpose of the 8,000 tax credit?”

The worried parent continues:

“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. “

The answer looks like a no.

Here’s more on the $8000 first-time homebuyer tax credit.