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-   -   Courtesy Letter About First Time Home Buyer Credit (https://www.askmehelpdesk.com/showthread.php?t=535044)

  • Dec 15, 2010, 03:20 PM
    Hunnybee_420
    Courtesy Letter About First Time Home Buyer Credit
    1. I received my first time homebuyer tax credit for 2009 in good time in early 2010 no problem and just the other day I received a letter that said it was a courtesy letter and listed the restrictions behind the credit and I was just curious if that is a letter everyone receives or should I be worried about it?

    2. If I was to want to rent out a room in my house but still keep it as my primary residence also, just get some help with the bills while helping a friend does that infringe upon the restrictions of not renting the house?? Because it is just one room and I would still live here too??

    Please answer both inquiries to the best of knowledge, I've just spent a hour searching to find no conclusive answers!! Thanks :D
  • Dec 17, 2010, 02:06 PM
    AtlantaTaxExpert
    Do NOT worry about the letter; it is just an administrative letter sent to you by the IRS to ensure you understand the restrictions.

    Do NOT worry about renting one room. Because it is NOT a separate building, the IRS does NOT track such room rentings as rental property, so you will not even have to report the rental income on your tax return.
  • Dec 17, 2010, 02:10 PM
    Hunnybee_420
    Comment on AtlantaTaxExpert's post
    Thank you I feel a lot better :D
  • Dec 17, 2010, 02:29 PM
    AtlantaTaxExpert
    Glad to help!

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