I am wondering if I qualify for the first time home buyer tax credit. It has been 3 years since I've owned my own home from start to finish. However within the past 3 years I have had my name on a house in Las Vegas which was transferred to me from my father. I am not claiming any interest on it this year for 2008, but I did for 2007. Does this count and can I claim the first time home buyer credit? This is for Las Vegas, Nevada. I quit claim the deed to the house back to my dad in August 2008 and purchased a home in Feb 2009?

What matters here is whether the house in Las Vegas was your principal residence. If it was, then you are ineligible for credit on the house you purchased in February 2009. But if your primary residence was actually an apartment where you were paying rent, so that you have not owned your principal residence for the 3 years prior to February 2009, then it would qualify.