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ecardin1
Mar 22, 2011, 08:03 AM
Hello. I purchased my home April 30th of 2010 and closed June 20th so I understand that I qualify for the tax credit. I did however, purchase the home from a relatives estate. I know that I cannot file for the tax credit if the home was purchased from a relative but what about that deceased relatives estate? Thank you.

Ellie

joypulv
Mar 22, 2011, 09:18 AM
From IRS.gov 'basic information' you can't claim the credit if:
* You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.

I couldn't find more detail. The question then is who are the heirs of the estate? You are essentially buying it from them. If you are one of the heirs, or one/some of the heirs are close relatives, I would think you would also be denied. Maybe you could argue for 10% of those heirs who are not close.

I wouldn't think that who died is pertinent, but the IRS might.

So.. I don't know either! I would submit the paperwork and hope for the best.